OJK Hopes MNC And Nobu Bank Merger Plans To Prioritize Healthy Synergy

Chief Executive of Banking Supervision of the Financial Services Authority (OJK) Dian Ediana Rae. (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) hopes that the planned merger of Bank MNC and Bank Nobu will continue to run by prioritizing the synergy of healthy banks and sustainable growth.

"We still hope that the merger plan between MNC and Nobu will be carried out as previously committed," said OJK Banking Supervision Chief Executive Dian Ediana Rae in Jakarta, quoted from Antara, Monday, August 12.

However, according to Dian, to unite two banks that have different corporate business characteristics and culture, it is necessary to do it carefully and not in a hurry so that later it will produce healthy bank synergies and be able to develop sustainably after the merger.

Individually, the condition and performance of the two banks are currently still relatively good with capital that is already above the minimum provision.

The efforts made by the two banks were in the form of cross-ownership transactions between the two business groups of the two banks, each of which was 10 percent some time ago as part of the initial steps towards the merger of the two banks.

The OJK has not or has not set a rigid specific time limit but will certainly discuss its time frame with the management and controlling shareholders (PSP) of the two banks.

To date, the two banks have not reported the direction of business development going forward, but individually the second has reported business as usual.

The news of the merger between Bank MNC and Bank Nobu has been circulating since early 2023.

The length of the negotiation process is considered due to the business complexity and ecosystem of the two banks. Even so, Dian previously said that the merger of MNC Bank and Bank Nobu was a point of no return or a decision that could not be withdrawn in banking consolidation.

This corporate action is a manifestation of the commitment of shareholders in the framework of business-to-business (B2B) to support the strengthening of the banking industry.