PT Mega Corpora owned by Indonesian tycoon, Chairul Tanjung, will become the new shareholder of PT Bank Bengkulu, after acquired 26 percent of regional lender - Photo by Bank Mega Office

JAKARTA (TheInsiderStories) PT Mega Corpora owned by Indonesian tycoon, Chairul Tanjung, will become the new shareholder of PT Bank Bengkulu, after acquired 26 percent of regional lender, said the spokesman on Tuesday (11/25). The bank targeting the entire acquisition process to be completed in the first week of December.

The company will injected fresh capital Rp100 billion (US$7.09 million) by buying new shares of ank Bengkulu. If the share purchase is successful, it will become the third regional bank bought by Mega Corpora after owned 24.90 percent of PT Bank of Sulawesi Utara Gorontalo (Bank Sulut Go) and PT Bank Sulawesi Tengah.

Based on the financial reports as of Sept. 30, majority shares of the lender is the regional government of Bengkulu amounted to 44.28 percent and the rest were owned by 10 cities and regencies. The spokesman, Fanny Irfansyah, said the bank was an obligation to fulfilling the minimum core capital of Rp1 trillion by the end of 2020 and Rp3 trillion in 2022.

Currently, the core capital of Bank Bengkulu about Rp853.12 billion. While, as of Oct. 31, 2020, Bank Bengkulu booked a net profit Rp126 billion an increase of 126 percent compared to the same period of last year. Total assets of the lender stood at Rp8.45 trillion supported by loan growth worth of Rp5.74 trillion and third party funds of Rp7.23 trillion.

Early of this month, Mega Corpora has acquired 73.71 percent shares of PT Bank Harda Internasional Tbk (IDX: BBHI) from the existing shareholders, PT Hakimputra Perkasa. Currently, the firm has 12 subsidiaries in financial services like PT Bank Mega Tbk (IDX: MEGA), PT Bank Mega Syariah, Bank Sulut Go and Bank Sulawesi Tengah.

Financial Service Agency (FSA) has announced the regulator can force Indonesian banks to consolidate, merging or other steps to maintain financial stability amid the COVID-19. The regulation consists of the scope of regulation applies to banks and branch offices domiciled overseas.

The agency also has authority to give written orders to banks to merging, consolidating, taking over or integrating. In addition, written orders are given to lenders that meet the criteria based on FSA assessments.There are some adjustments to the process of merging, consolidation, acquisition, or integration of the lenders, said the regulator.

For conventional and Islamic banks, it can be excluded from the provisions regarding sole ownership in Indonesian banks, ownership of commercial bank shares, or deadline for fulfilling minimum core capital. For rural bank and Islamic people’ financing banks or branch offices can still be maintained in accordance with the office network area that has been established.

US$1: Rp14,100

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