KNews.id- PT Bank BRIsyariah Tbk. (BRIS), PT Bank Syariah Mandiri (BSM), and PT Bank BNI Syariah (BNIS) are moving forward with their merger process. Currently, it has entered the stage of signing the Merger Deed, after previously each participating bank has received its shareholders’ approval through the EGMS to complete the merger plan.
The Signing of the Three Islamic Bank Merger Deeds was carried out by all representatives of the participating banks, namely the President Director of Bank BRISyariah Ngatari, President Director of Bank Syariah Mandiri Hery Gunardi, and President Director of Bank BNI Syariah Abdullah Firman Wibowo, Wednesday (16/12).
This process was also witnessed by Deputy Minister of SOEs Kartika Wirjoatmodjo and representatives from PT Bank Rakyat Indonesia (Persero) Tbk., PT Bank Mandiri (Persero) Tbk., and PT Bank Negara Indonesia (Persero) Tbk.
The Merger Deed also contains the new management structure of the surviving entity, which consists of ten directors. This management structure has been appointed through the BRISyariah EGMS last Tuesday (15/2) and will start working effectively after undergoing an assessment process by the Financial Services Authority (OJK). The management structure of the newly merged bank according to the agreement in the BRISyariah EGMS are as follows:
BOARD OF COMMISSIONER
- President Commissioner, concurrently as Independent Commissioner : Mulya E Siregar
- Commissioner : Suyanto
- Commissioner : Masduki Baidlowi
- Commissioner : Imam Budi Sarjito
- Commissioner : Sutanto
- Independent Commissioner : Bangun S. Kusmulyono
- Independent Commissioner : M. Arief Rosyid Hasan
- Independent Commissioner : Komaruddin Hidayat
- Independent Commissioner : Eko Suwardi
SHARIA SUPERVISORY BOARD
- Chariman of the Sharia Supervisory Board : Mohamad Hidayat
- Sharia Supervisory Board Member : Oni Syahroni
- Sharia Supervisory Board Member : Hasanudin
- Sharia Supervisory Board Member : Didin Hafidhuddin
BOARD OF DIRECTOR
- President Director : Hery Gunardi
- Deputy President Director 1 : Ngatari
- Deputy President Director 2 : Abdullah Firman Wibowo
- Director of Wholesale & Transaction Banking : Kusman Yandi
- Director of Retail Banking : Kokok Alun Akbar
- Director of Sales & Distribution : Anton Sukarna
- Director of Information Technology : Achmad Syafii
- Director of Risk Management : Tiwul Widyastuti
- Director of Compliance & Human Capital : Tribuana Tunggadewi
- Director of Finance & Strategy : Ade Cahyo Nugroho
Deputy Minister of SOEs Kartika Wirjoatmodjo said, the signing of the Merger Deed shows that the merger of the three Islamic banks is proceeding according to schedule. He also emphasized that the ongoing merger process is in line with the Government’s vision to create a more established and larger Sharia ecosystem in Indonesia, one that could generate vast benefits to the nation. Therefore, the Ministry of SOEs fully supports this business merger iniatiative.
“The Merged Bank is expected to possess competitive products and competent human resources to answer the needs of national and global markets. This process can be carried out thanks to the hard work of all parties, for the sake of the Islamic economy’s development. I also believe that the appointed management structure is reflecting the needs of PT Bank Syariah Indonesia Tbk. To ensure the integration process runs smoothly, we need experienced professionals who understand the internal and external conditions of the three banks to oversee it,” said Tiko.
Hery Gunardi, Head of Project Management Office for Integration & Value Improvement of State- Owned Islamic Banks and President Director of Bank Syariah Mandiri said, after the merger process is complete, Bank Syariah Indonesia must be able to immediately move towards realizing its vision of becoming one of the leading Islamic banks in Indonesia and the world.
“Bank Syariah Indonesia must quickly put the pedal to the metal to realize its vision as one of the leading Islamic banks in Indonesia and the world. The new structure and identity have fueled our enthusiasm to complete the merger and integration process with our best; therefore, we can operate to meet all the needs of our customers and the nation. We want to echo a message about the spirit of Unity through this merger initiative. We are united in Hasanah (goodness), united to bring Faedah (benefits), and God willing, united to become a Berkah (blessing). We stand united for Indonesia,” said Hery.
President Director of BRIsyariah Ngatari said, until the merger process is complete, the operations of the related banks will continue as usual. Customers and all stakeholders are told not to worry about anything related to their financial services in the three merged Islamic banks.
“Until the merger process is completed, the operations of BRISyariah and the two other banks will continue to run normally and optimally. In accordance with the proposed Merger Plan, the merger process must go through the effective statement phase from the OJK, Bank Indonesia, and the approval of the Ministry of Law & Human Rights for the Amendment to the Company’s Articles of Association,” said Ngatari.
President Director of BNI Syariah Abdullah Firman Wibowo said, this business merger wouldimprove the extent of access to all financial services based on Islamic principles, followed byincreasingly potent financial services quality. The products and services offered by Bank SyariahIndonesia would certainly answer all the needs of customers and society.
“The three Islamic banks merger’s effective date is 1 February 2021. Later, the Merged Bank will serve all segments of society: from MSMEs, corporations, retail customers, and global investors. Bank Syariah Indonesia will also provide treasury & international banking services to optimize the potential of Global Sukuk (Sharia bonds), as well as products that adopt the latest digital technology to serve the millennial generation better,” said Firman.
The Merged Bank will conduct business in more than 1,200 branch offices and existing unitspreviously owned by BRISyariah, Bank Syariah Mandiri, and BNI Syariah. The total assets of thesurviving entity will eventually reach IDR 214.6 trillion, with a core capital of more than IDR 20.4trillion. This number sets the newly merged bank in the list of the top 10 largest banks in Indonesiain terms of assets, and the top 10 largest Islamic banks in the world in terms of market capitalization.
Within the retail segment, the Merged Bank will have a variety of financial solutions in the Islamic ecosystem, such as the Hajj and Umrah pilgrimage, ZISWAF, education, health, international remittances, and other financial services and solutions based on Sharia principles, supported by high-quality digital banking.
Within the corporate and wholesale segments, the Merged Bank will have the ability to enter into the industrial sectors that have not been optimally penetrated by Islamic banking. In addition, the Merged Bank is also believed to be able to participate in financing large-scale infrastructure projects in line with the Government’s plans for infrastructure development in Indonesia. Furthermore, the Merged Bank will target global investors through competitive and innovative Sharia products.
Within the SME and Micro segments, the Merged Bank will continue to support the MSME players through Islamic financial products and services that are following the needs of MSMEs; including People’s Business Credit (KUR), either directly or through synergy with State-Owned Banks Association and the Government. The Merged Bank will hold the status of a public company and be listed on the Indonesia 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 public ownership 4.4%. The shareholder structure is based on the calculation of the valuation of each of the merging participating banks. (AHM)
