Allo Bank Officially Joins The Structure Of KUB Mega Corpora Owned By Conglomerate Chairul Tanjung

JAKARTA - PT Allo Bank Indonesia Tbk (BBHI) has officially entered the structure of the Bank Business Group or KUB Mega Corpora owned by conglomerate Chairul Tanjung.

In the disclosure of information on the Indonesia Stock Exchange, quoted on Monday, January 17, Allo Bank management has attached changes to the KUB structure from Mega Corpora. This step is in accordance with the Financial Services Authority Letter No. S-69/PB.31/2021 dated April 13, 2021.

"The company has been registered in the administrative supervision of the Financial Services Authority as a member of KUB Mega Corpora," wrote Allo Bank management.

The KUB positions Bank Mega as the executor of the holding company, while Bank Mega Syariah and Allo Bank Indonesia are appointed as members.

Based on the rules of the Financial Services Authority (OJK), KUB allows small banks to take shelter in one big bank as the parent. Thus, the core capital of the small bank is sufficient to reach a minimum of IDR 1 trillion.

Chairul Tanjung in a press conference in Jakarta last week said that Allo Bank would not merge with Bank Mega, but that the issuer bank with the code BBHI would be included in the KUB Mega Corpora.

"So, KUB Mega Corpora, the leading bank of Bank Mega. We will collaborate closely between Bank Mega, Allo Bank, Bank Syariah Mega, and BPD (Regional Development Bank) in which we are the shareholders," said CT.

With the KUB, Bank Mega and Allo Bank will strengthen collaboration with regional banks. Banks in KUB Mega Corpora will also be facilitated to have applications to support bank operations.

"In this case, we are lucky because we have Bank Mega, where later matters related to the money market, treasury and so on can collaborate," said CT.

Bank Mega, said CT, will also play a role in providing cash withdrawal facilities through automatic teller machines (ATMs), which are owned by Allo Bank.