KNews.id- Planned merger of PT Bank BRIsyariah Tbk. (BRIS), PT Bank Syariah Mandiri (BSM) and PT Bank BNI Syariah (BNIS) are increasingly being matured. Changes to the Summary of the Merger Plan which contain additional explanations regarding the structure, name and logo of the new bank have been made.
When the entire process has been completed and the approval of the relevant regulators has been obtained, in accordance with the Amendment to the Merger Plan Summary submitted, the Merger Result Bank will be named PT Bank Syariah Indonesia Tbk.
This name will be used effectively by PT Bank BRIsyariah Tbk. as the Surviving Bank. The name change was also followed by a change in the logo. The head office of the Merged Bank will be at Jl. Abdul Muis No. 2-4, Central Jakarta, which was previously the head office of BRIS.
The Merged Bank will conduct post-merger business activities at the head office, branches and existing units previously owned by BRIsyariah, Bank Syariah Mandiri, and BNI Syariah.
Hery Gunardi, Head of Project Management Office for Integration and Value Improvement of BUMN Sharia Banks, said that all processes and stages of the merger will continue to be guarded until the merger of the three BUMN Islamic banks is completed.
He ensured that all plans for changes and operational adjustments were in line with the objectives and operational activities of the merged bank, which has a vision to become the Top 10 largest Islamic banks in the world in the next 5 years and as the Top 10 largest banks in Indonesia.
“The presence of Bank Syariah Indonesia will be a milestone in the revival of the economy and Islamic finance in Indonesia. As the largest Islamic bank in Indonesia, this new entity certainly requires a strong identity and experienced Directors to run its operations. With Directors who will be filled by experienced people in their fields, the vision of Bank Syariah Indonesia to become one of the largest Islamic banks in the world will be more solid and confident we can make it happen, “said Hery, who is now the President Director of Bank Syariah Mandiri in Jakarta, recently. recently.
Meanwhile, President Director of BRISyariah Ngatari added, there are still a number of steps that must be passed until the merger of the three banks is complete, including obtaining approval from the relevant regulators. The entire process will be carried out carefully in accordance with applicable regulations.
“We guarantee that all merger processes will be completed, by prioritizing employees, customers and business partners. It should be noted that currently the merger has not been effective. We are still running a number of processes in order to obtain all regulatory approvals. Until the process is complete, all operations and services will continue to run normally and optimally, “said Ngatari.
As for the amendment to the Summary of the Merger Plan, it also contains a plan for changes to the organizational structure of the Surviving Bank, namely BRI Syariah. Post-merger, the Merged Bank will have a management structure reinforced by 10 Directors.
The names of each Board of Directors, Board of Commissioners and Sharia Supervisory Board (DPS) of the Merged Bank will be discussed at the BRIS EGM which is expected to be held on 15 December 2020.
In further detail, the 10 positions of the Board of Directors who will manage the business of the Merged Bank consist of President Director, two Deputy President Director positions, and one each as Director of Wholesale & Transaction Banking, Retail Banking, Sales & Distribution, Information Technology & Operations, Risk Management, Compliance & Human Capital, and Finance & Strategy.
The Merged Bank will later have assets of up to IDR214.6 trillion with a core capital of more than IDR20.4 trillion. The number of assets and core capital places the Merged Bank in the list of 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 in the next five years.
In addition to having large assets and core capital, the Merged Bank will also be supported by the existence of more than 1,200 branches, 1,700 ATM networks, and supported by more than 20,000 employees throughout Indonesia, the Merged Bank will be able to provide sharia-based financial services, social and even spiritual services for more customers.
The Merged Bank will remain in the status of a public company and be listed on the Indonesian Stock Exchange with the ticker code BRIS. The composition of shareholders in the Merged Bank is PT Bank Mandiri (Persero) Tbk. (BMRI) 51.2%, PT Bank Negara Indonesia (Persero) Tbk. (BNI) 25.0%, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) 17.4%, DPLK BRI – Sharia shares 2% and the public 4.4%.
Additional Information and / or Amendments to the Summary of the Merger Plan have been submitted to all relevant regulators, both in the capital market and banking sectors. The subsequent stages and processes will be fully implemented in accordance with the prevailing laws and regulations.
All parties are currently continuing to oversee the merger process including obtaining approval from all relevant regulators to reach the estimated effective date of the merger as stated in the Amendment to the Summary of the Merger Plan, namely 1 February 2021. (AHM)
