OJK Confirms Bank Owned By Conglomerate Hary Tanoesoedibjo Will Merger With Bank Nobu From Lippo Group

JAKARTA - The Financial Services Authority confirmed the planned merger or merger of two banks belonging to the MNC Group, namely MNC Bank and a bank owned by Lippo Group, namely PT Bank Nationalnobu Tbk (NOBU).

"Regarding the merger of two banks, namely Bank MNC and Bank Nobu, they have submitted plans for a merger before the deadline in 2022," said Chief Executive Chief Executive of OJK Banking Supervision Dian Ediana Rae at an online press conference of the OJK Board of Commissioners Meeting, quoted from Antara, Tuesday, February 28.

Dian said the planned merger was in progress, and there was already a realization of the stages of the plan. According to Dian, the merger steps of the two banks from large conglomerates in the class of MNC and Lippo will be a good step because it will form a strong ecosystem.

"I see this is very good, MNC joined Nobu. Their ecosystem is also strong, it supports it," he said.

He said the merger action was no longer held to meet the bank's minimum core capital provisions of IDR 3 trillion, as stipulated in OJK Regulation Number 12 of 2020 concerning Commercial Bank Consolidation.

"This means that the issue is no longer meeting Rp3 trillion but talking about the merger and this will strengthen these two efforts, which I think we both know that MNC and Lippo are two strong groups," he said.

OJK believes that in the future Bank MNC owned by conglomerate Hary Tanoesoedibjo, and Bank Nobu from Mochtar Riady's Lippo can work together well. The two banks also have a clear commitment to the merger so that they will produce banks with stronger capacities.

"The commitment is clear and there is already a team so they will not back down and they will also continue to accelerate this merger so that it becomes a stronger bank," said Dian Ediana.