JAKARTA (TheInsiderStories) – After announced to leave PT Bank Panin Tbk (IDX: PNBN), Australian-based ANZ Group is reported stayed at the local lender, one official told the media on Wednesday (06/11). Currently, the company holds 38.82 percent stake joined with tycoon Mukmin Ali Gunawan.
The chief executive at the Financial Services Authority (FSA), Heru Kristiyana, said that ANZ and PT Panin Financial Tbk (IDX: PNPF), has completed the due diligence and fit and proper test as the shareholders of the medium lender. With the completion of the fit and proper test, ANZ is recorded as the controlling shareholder at Bank Panin along with Panin Financial.
Based on publication report, ANZ hold 38.82 percent Bank Panin‘ share under Vontraint No 1103 PTY Ltd., Panin Financial 46.04 percent, and public 15.54 percent.
Recently, local media reported, Singapore’ DBS Holding Ltd., interested to buy Bank Panin owned by ANZ and Gunawan family. The Group is estimating prepared funds Rp9.4 trillion (US$671.43 million) to acquire the shares.
Lately, its unit, DBS Bank Ltd., made acquisitions in global financial markets, such as Indonesia, Singapore, Hong Kong, China, and Taiwan. Its reported, ANZ have appointed Morgan Stanley to assist the share sale plan.
In the third quarter (3Q) of 2019, Bank Panin booked a net profit of Rp2.52 trillion, up 16.8 percent compared to last year. The main contributor was other operating income, including fee-based income, which grew 5.31 percent to Rp1.59 trillion.
The achievement of double digit profit growth was recorded amid the decline in net interest income (NII), which is recorded Rp6.7 trillion. The decline in the NII was caused by interest rate pressures.
The bank’ net interest margin ratio has fallen by 10 basis points to 4.73 percent as of September 2019. In addition, the rate of the bank’ main business is still relatively slow, because it is growing below the industry average. Bank Panin disbursed loans amounting to Rp153.4 trillion as of September 2019, up 3.9 percent from a prior year.
Currently, FSA has a plan to relax the single presence policy rule. The single ownership rule referred to stipulates that controlling shareholder is only allowed to have one bank. If the controlling shareholder has another bank, it must conduct a business consolidation.
The authority wants to encourage banking consolidation through the relaxation of the rule. As is known, the agency wants the number of banks in the country is more streamlined than at present.
Kristiyana explained in the policy relaxation, the authority would allow a party to have more than one bank. However, the second bank must be classified as a small bank or core capital of less than Rp5 trillion.
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