OJK Revokes BTPN Syariah Ventura License, SMBC Responds

Indonesia's Financial Services Authority (OJK) has revoked the business license of PT BTPN Syariah Ventura, the sharia-compliant venture capital arm of PT Bank BTPN Syariah Tbk. The parent company confirmed liquidation is underway, while the SMBC financial conglomerate, of which the venture unit is a member, has publicly endorsed the move.

The revocation ends BTPN Syariah Ventura as a standalone legal entity. Both the parent bank and its controlling conglomerate framed the decision as strategic restructuring rather than a regulatory sanction, with assurances that no material financial impact will follow.

Contents

01

The Regulatory Action

02

A Strategic Pivot, Not a Penalty

03

SMBC Weighs In

04

What the Integration Means

The Regulatory Action

OJK formalised the license revocation through Decree Number KEP-47/D.06/2026, issued on 3 August 2026. The decision was reinforced the following day by OJK letter Number S-877/PL.021/2026, dated 4 August 2026.

PT Bank BTPN Syariah Tbk subsequently announced the liquidation of its venture capital subsidiary to the Indonesia Stock Exchange. With the revocation in effect, the bank confirmed it no longer holds any subsidiary entities.

A Strategic Pivot, Not a Penalty

Arief Ismail, Director of Compliance and Corporate Secretary of PT Bank BTPN Syariah Tbk, described the liquidation as part of a broader effort to sharpen focus and improve operational efficiency. In a disclosure filed on 5 August 2026, he stated the move would not diminish the bank's commitment to building an inclusive financial ecosystem and expanding access to sustainable financial services.

The bank expects a leaner structure will make it more agile and better positioned to support long-term growth.

SMBC Weighs In

PT Bank SMBC Indonesia Tbk, which serves as the Parent Entity of the SMBC Financial Conglomerate (PIKK), received formal notice of the license revocation from BTPN Syariah Ventura on 5 August 2026. The venture unit was a member of the SMBC Financial Conglomerate.

In its disclosure to OJK and the Indonesia Stock Exchange, Bank SMBC Indonesia declared support for dissolving BTPN Syariah Ventura as a separate legal entity. The bank confirmed the venture unit's activities will be integrated directly into the SMBC financial conglomerate.

Critically, Bank SMBC Indonesia stated the license revocation will have no material impact on its financial condition or operations.

What the Integration Means

The absorption of BTPN Syariah Ventura into the SMBC conglomerate is expected to deliver several benefits. According to the group's disclosure, the integration aims to improve operational efficiency, simplify the organisational structure, and strengthen governance and integrated risk management.

The conglomerate also signalled the move supports its long-term strategy by enabling more effective oversight of digital ecosystem initiatives targeting underserved communities. Despite the structural change, both BTPN Syariah and SMBC have reiterated their commitment to financial inclusion.