JAKARTA (TheInsiderStories) – Minister of state own enterprises (SOEs), Erick Thohir, aborted the formation of state-bank holding and chooses to sharpen the focus of each lender. But, he ready to form a parent company for Sharia bank under his ministry.
Earlier, his predecessor, Rini Soemarno wanted to establish financial holding but for years the planned not realized. The initlal planned holding will be led by investment management financial services PT Danareksa.
The new holding will manages PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Bank Tabungan Negara Tbk (IDX: BBTN), PT Pegadaian, PT Permodalan Nasional Madani, and PT Bahana Pembinaan Usaha Indonesia. The holding establishment aims to ease command and monitoring.
According to Thohir, wether to set up a holding company, he refer to focus the bank’ businesses. Currently, he noted, only three state-owned lenders had a clear market focus. Only Bank Negara Indonesia not have a strong business focus yet and choice to compete with Bank Mandiri in the corporate segment.
“I hope BBNI can become a source of international funding cause they have a number branches in abroad,” said the minister last week.
He asserted, the needs for international bank with the Indonesian flag has the potential to increase in the future. Moreover, there are a potential for the development and expansion of corporate business in the country.
Beyond the sharpening of the focus of the four bank companies, he also plans to merge businesses of sharia units and subsidiaries of the state-owned banks. At present, there are at least three sharia banks namely PT Bank BRI Syariah Tbk (IDX: BRIS), PT Bank Mandiri Syariah, PT Bank BNI Syariah and one unit under Bank Tabungan Negara.
He hope with merge would create the top eight largest Sharia banks in terms of assets and have ability to funding the loans even greater.
In his fist term, President Joko Widodo has has been assigned Soemarno to merge SOEs under six holding companies in various sectors such as mining, oil & gas, infrastructure and construction, housing, financial services, also food and commodities.
So far, the ministry has succeed established two holding companies in mining lead by PT Indonesia Asahan Aluminium, Oil & gas holding under energy producer PT Pertamina, and pharmaceutical under PT Biofarma Tbk. The complicated rule and administration become the handicap on the SOEs moves to create new holding.
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