Indonesia’s Bank BTN names Nixon LP Napitupulu as CEO

They have also decided that 20% of net profits for 2022 will be used as dividends.

The shareholders of Bank BTN have approved the appointment of Nixon LP Napitupulu as CEO of the bank, replacing Haru Koesmahargyo.

Prior to his new role Nixon served as vice president director of Bank BTN.

The appointment was approved during the bank’s annual general meeting of shareholders, where shareholders also discussed the bank’s dividend policy.

"Bank BTN [shareholders] has decided that 20% of the net profit for the 2022 fiscal year will be used as dividends and 80% will be designated as retained earnings," Nixon said after the Bank BTN annual general shareholder’s meeting in Jakarta, held on 16 March.

Bank BTN has also set several financial performance targets, including credit and financing growth of between 8% to10%; Third Party Funds (DPK) target growth of between 8% to 10%; and a net profit increase of between 8% to 10%.

The bank also expects its nonperforming loans (NPLs) to improve to 3.2% to 3% of total loans. 

"We hope that all of the company's general policies for 2023 can be implemented so that financial performance can grow according to the targets that have been set," concluded Nixon.