BNI Will Annex A Bank Owned By Conglomerate Jogi Hendra Atmadja, Wants A GMS In March And The Acquisition Will Be Completed In May 2022

Illustration. (Photo: Doc. Bank Mayora)

JAKARTA - PT Bank Negara Indonesia (Persero) Tbk (BBNI) alias BNI, plans to hold a general meeting of shareholders (GMS) in March 2022. The GMS is held in connection with the company's plan to take over 63.92 percent of the shares of the bank owned by conglomerate Jogi Hendra Atmadja , PT Bank Mayora.

Based on the summary of the takeover plan quoted on Tuesday, January 25, BNI has scheduled the announcement of the GMS on February 4, 2022. Furthermore, the summons for the BNI GMS is scheduled for February 21, 2022.

Furthermore, BNI will hold a GMS on March 15, 2022, for takeover approval. The issuer codenamed BBNI shares, targets the takeover plan of Bank Mayora to be completed in May 2022.

BNI plans to take over Bank Mayora to support public digital transactions and is also in line with the company's transformation to form a digital bank through an inorganic strategy, namely the acquisition of Bank Mayora, which will then be transformed into a digital bank.

"Bank Mayora will present ecosystem-based digital solutions, especially to assist SMEs in accommodating the needs of banking services and SME businesses," explained BNI management.

Later, after the takeover action is completed, the composition of Bank Mayora's shareholders will consist of PT Mayora Inti Utama at 36.08 percent and BNI at 63.92 percent.

This takeover plan was signed on January 12, 2022 by the directors of BNI and Bank Mayora and has been approved by the respective boards of commissioners. However, this design has not yet obtained the approval of the GMS of BNI and Bank Mayora

For information, Bank Mayora posted a net profit for the current year of IDR 32.7 billion in the third quarter of 2021. Bank Mayora's profit rose 234 percent on an annual basis (year-on-year / yoy) from profit for the same period last year of IDR 9.8 billion.

Meanwhile, interest income fell by 8 percent yoy or Rp. 3.7 billion and interest expense also decreased by 13 percent yoy to Rp. 1.7 billion in September 2021. From there, net interest income shrank 3 percent yoy to Rp. 1.9 billion.

In addition, Bank Mayora has disbursed loans of 3.7 trillion until September 2021. This figure is down 12 percent from financing in December 2020 of Rp. 4.3 trillion.

In terms of collecting third party funds (DPK), Bank Mayora grew 15 percent ytd to Rp7.34 trillion. This growth came from low-cost funds in the form of demand deposits and savings (CASA) which grew by 42 percent ytd, from Rp2.09 trillion to Rp2.96 trillion.

Thus, Bank Mayora's total assets rose 12 percent ytd. The company's total assets as of December 2020 amounted to IDR8.01 trillion, increasing to IDR9 trillion as of September 2021.

In addition, Bank Mayora also recorded a non-performing loan (NPL) ratio at the level of 3.21 percent on a gross basis and 2.09 percent on a net basis in September 2021.