OJK Revokes BTPN Syariah Ventura Licence, SMBC Speaks Out

Indonesia's Financial Services Authority (OJK) has revoked the business licence of PT BTPN Syariah Ventura, triggering a formal liquidation of the sharia venture capital firm. The decision, confirmed through an official decree dated 3 August 2026, marks the end of the entity as a standalone company.

PT Bank SMBC Indonesia Tbk, the parent entity within the SMBC financial conglomerate, has publicly backed the move, stating it will integrate BTPN Syariah Ventura's business activities into the broader group. Both the parent bank and PT Bank BTPN Syariah Tbk have assured stakeholders the decision carries no material financial impact.

Contents

01

The Regulatory Decision

02

A Strategic Restructuring, Not a Distress Signal

03

SMBC's Integration Plan

04

Commitment to Inclusive Finance Remains

The Regulatory Decision

OJK revoked the licence through Commissioner Decree Number KEP-47/D.06/2026, issued on 3 August 2026. The revocation was reinforced a day later by OJK letter Number S-877/PL.021/2026, dated 4 August 2026.

PT Bank BTPN Syariah Tbk formally announced the liquidation on 5 August 2026 through an information disclosure submitted to the Indonesia Stock Exchange (IDX). Arief Ismail, Director of Compliance and Corporate Secretary of PT Bank BTPN Syariah Tbk, described the move as part of a broader strategy to sharpen the company's focus and operational efficiency.

A Strategic Restructuring, Not a Distress Signal

The liquidation is not the result of financial distress. According to the company's disclosure, winding down BTPN Syariah Ventura as a separate legal entity is a deliberate strategic decision aimed at streamlining the organisational structure.

Following the revocation, PT Bank BTPN Syariah Tbk no longer has any subsidiary entity. Arief Ismail confirmed this in the IDX disclosure, framing the simpler structure as enabling a more agile organisation capable of supporting long-term business growth.

SMBC's Integration Plan

BTPN Syariah Ventura is a member of the SMBC Financial Conglomerate, with Bank SMBC Indonesia serving as the Parent Company of the Financial Conglomerate (PIKK). Bank SMBC Indonesia confirmed it received formal notification from BTPNSV on 5 August 2026 regarding the licence revocation.

The bank stated the integration is expected to improve operational efficiency, simplify the organisational structure, and strengthen integrated governance and risk management. It also explicitly stated the licence revocation will not have any material impact on Bank SMBC Indonesia's financial condition or operations.

Commitment to Inclusive Finance Remains

Despite the structural change, BTPN Syariah emphasised its commitment to building an inclusive financial ecosystem and expanding access to sustainable financial services remains intact. The business activities previously carried out by BTPN Syariah Ventura will continue within the SMBC conglomerate, ensuring continuity of the digital ecosystem mission serving Indonesia's underserved communities.