PT Bank Mandiri Tbk (IDX: BMRI), will become the dominant shareholder in the sharia bank holding, PT Bank BRISyariah Tbk (IDX: BRIS) - Photo by the Company

JAKARTA (TheInsiderStories) –  One of the largest bank in Indonesia, PT Bank Mandiri Tbk (IDX: BMRI), will become the dominant shareholder in the sharia bank holding, PT Bank BRISyariah Tbk (IDX: BRIS), said the lender today (10/21). The state bank will hold around 51 percent in the merger bank.

Other shareholders are PT Bank Negara Indonesia Tbk (IDX: BBNI) 25.0 percent, PT Bank Rakyat Indonesia Tbk (IDX: BBRI) 17.4 percent, Pension Fund BRI – Sharia 2 percent, and public 4.4 percent. The merged bank are BRISyariah, PT Bank Syariah Mandiri, and PT Bank BNI Syariah.

Head of the project and deputy CEO of Bank Mandiri, Hery Gunardi, said after merged total assets of BRISyariah worth of Rp215.6 trillion (US$14.67 billion) with a core capital of more than Rp20.4 trillion. The merged bank will be included in the TOP 10 largest banks in Indonesia in terms of assets and the TOP 10 largest Islamic banks in the world in terms of market capitalization.

“Guarding and raising the largest Islamic bank in the country is actually a big mandate. This national largest nation can truly benefit many people and bring Indonesia’ name to the global scene as the center of the world’ sharia economy,” said the Gunardi in a press statement released today.

The management of BRISyariah, as of first half of 2020, the bank’ assets were only Rp49.5 trillion. According to president director of the issuer, Ngatari, the merger phase will still have a long way to go for the company in accordance with regulations. 

While, president director of BNISyariah, Abdullah Firman Wibowo, stated that the strategy and business plan of the merged Bank along with the government’ efforts to realize the halal ecosystem and develop the sharia economy in Indonesia. And, president director of Bank Syariah Mandiri, Toni E.B. Subari, explained after merged, the new holding will have 1,200 branches, 1,700 ATM networks, and is supported by 20,000 employees spread across Indonesia.

Gunardi added, the effective date of the merger is targeting on Feb. 1, 2021. For this reason, there are no operational and service changes during this process.

US$1: Rp14,700

Written by Editorial Staff, Email: theinsiderstories@gmail.com