Merger Of BUMN Sharia Banks To Be Named 'Indonesian Sharia Bank'

Illustration. (Photo: Doc. Antara)

JAKARTA - The merged bank of PT Bank BRIsyariah Tbk (BRIS), PT Bank Syariah Mandiri (BSM), and PT Bank BNI Syariah (BNIS) will be named PT Bank Syariah Indonesia Tbk. This name will be used effectively by PT Bank BRIsyariah Tbk as the Surviving Bank.

"The presence of the Indonesian Sharia Bank will be a milestone in the revival of the Islamic economy and finance in Indonesia," said Head of the Project Management Office for the Integration and Value Improvement of BUMN Sharia Banks, Hery Gunardi in an official statement, quoted from Antara, Friday, December 11.

He said that the entire process and stages of the merger will continue to be guarded until the merger of the three BUMN Islamic banks is completed. He ensured that all plans for changes and operational adjustments were in line with the objectives and operational activities of the merged bank, which has a vision to become the Top 10 largest Islamic banks in the world in the next 5 years and as the Top 10 largest banks in Indonesia.

"As the largest Islamic bank in Indonesia, this new entity certainly requires a strong identity and experienced Directors to carry out its operations. With Directors who will be filled by experienced people in their fields, Bank Syariah Indonesia vision is to become one of the largest Islamic banks in the world. will be more stable and confident we can make it happen, "said Hery, who is now the President Director of Bank Syariah Mandiri.

President Director of BRISyariah, Ngatari, added that there are still a number of steps that must be passed until the merger of the three banks is complete, including obtaining approval from the relevant regulators.

"Alhamdulillah, now we have a new name design to become the identity of the merged bank. This new identity has fueled our enthusiasm to complete the merger and integration as best as possible, and start operating to meet all the needs of customers and society," he said.

He added that his party guaranteed that all merger processes would be carried out by prioritizing employees, customers and business partners.

"It should be noted that currently the merger has not been effective. We are still carrying out a number of processes in order to obtain all approvals from regulators. Until the process is complete, all operations and services will continue to run normally and optimally," said Ngatari.

The merged bank will later have assets reaching Rp. 214.6 trillion with a core capital of more than Rp. 20.4 trillion. He said that the Merged Bank is believed to be able to help MSMEs to finance large-scale infrastructure projects in line with the Government's plans for infrastructure development in Indonesia.

In addition, the Merged Bank will also target global investors through competitive and innovative Sharia products. The Merged Bank will still have 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 percent, PT Bank Negara Indonesia (Persero) Tbk. (BNI) 25.0 percent, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) 17.4 percent, DPLK BRI - Sharia shares 2 percent and the public 4.4 percent.