Indonesian government officially set up PT Bank Syariah Indonesia Tbk (IDX: BRIS), the resulting merger of three state-owned sharia banks, said the deputy minister - Photo by the Company

JAKARTA (TheInsiderStories) – Indonesian government officially set up PT Bank Syariah Indonesia Tbk (IDX: BRIS), the resulting merger of three state-owned sharia banks, announced by the deputy minister. The new merged bank will have total assets Rp214.6 trillion (US$15.22 billion), with a core capital of more than Rp20.4 trillion.

“I straighten out the global plan and has a license to access the global SUKUK market because there are a need for infrastructure funding,” said the deputy minister at state own enterprises minister, Kartika Wirjoatmodjo, in a virtual press conference, on Wednesday (16/12).

In addition to having large assets and core capital, Bank Syariah Indonesia, will also be supported by the existence of more than 1,200 branches and 1,700 ATM networks. The new CEO of Bank Syariah Indonesia, Hery Gunardi, said that a number of plans would be carried out by the merged bank of PT Bank BRISyariah Tbk (IDX: BRIS), PT Bank Syariah Mandiri (BSM), and PT BNI Syariah.

The merger firm, he adds, will focus on the wholesale banking business in Islamic finance, included tapping into the potential of the global SUKUK market in the Middle East. After merger, the company will have a branch or representation office in Dubai, Uni Emirates Arab in 2021.

Bank Syariah Indonesia will remain in the status of a public company and be listed on the Indonesia Stock Exchange. The shareholders of the Bank Syariah Indonesia are PT Bank Mandiri Tbk. (IDX: BMRI) by 51.2 percent, PT Bank Negara Indonesia Tbk (IDX: BBNI) 25.0 percent, PT Bank Rakyat Indonesia Tbk (IDX: BBRI) 17.4 percent, BRI Syariah pension fund 2 percent, and public 4.4 percent.

In the shareholders of the issuer, the government has appointed Gunardi as the new CEO of the bank.The man born in Bengkulu 58 years ago has also served as the president director of BSM. He started his career as a banker with PT Bank Pembangunan Indonesia, which was later merged with three other banks to become Bank Mandiri in 1999.

Gunardi has been in various positions with Bank Mandiri. Before becoming president director of BSM, he was deputy president director of Bank Mandiri from February to October 2020. Earlier, he served as director in various position at the state bank and a number of other positions.

US$1: Rp14,100

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