Indonesia's three-way merged Islamic bank to start operations in February 2021
JAKARTA – Three of Indonesia’s state-owned Islamic banks have completed their plan to merge by February 1, 2021.
The merged entity of PT Bank BRI Syariah Tbk, PT Bank Syariah Mandiri and PT Bank BNI Syariah will be called PT Bank BRISyariah, Hery Gunardi, Bank Mandiri’s deputy president director who is leading the merger team, told reporters at a virtual press conference on Wednesday (Oct 21).
The shareholders of the merged entity are PT Bank Mandiri (51.2%), PT Bank Negara Indonesia (25%), PT Bank Rakyat Indonesia (17.4%), DPLK BRI - Saham Syariah (2%) and public investors (4.4%). The government remains the biggest shareholder via the state-owned banks.
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