Jakarta, 21 December 2018 – PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) and PT Bank Sumitomo Mitsui Indonesia (SMBCI) have officially obtained the merger permit from the Financial Services Authority (Otoritas Jasa Keuangan/OJK). The Abridged Merger Plan announced on 2 August 2018, as well as additional information on 3 September 2018 and 3 October 2018.
After obtain OJK’s approval, there are still several stages of administration process with the relevant authorities. After all of the stages are passed, the merged-bank from BTPN and SMBCI will immediately operate as a new bank.
"This approval is one of the important stages in completing the BTPN-SMBCI merger process. We are grateful and really appreciate OJK for its continuing support in this corporate action process," said Jerry Ng, President Director of BTPN.
The merged-bank will operate under the name of PT Bank BTPN Tbk and serve a wider market segment ranging from mass market to corporate.
During the merger process, BTPN assures that the bank’s operational and services will continue without disruptions. “We are certain that this merger will improve the quality of our services and increase our customers’ trust in the future,” Jerry said as closing statement.
President and CEO of SMBC Makoto Takashima added, the merger was a reflection of SMBC's commitment to continue supporting the growth of economy and our customers’ businesses in Indonesia. "The merged bank will be able to contribute to creating a more competitive financial sector in Indonesia amid ASEAN economic integration," he said.
President Director of SMBCI Kazuhisa Miyagawa said, with SMBCI’s corporate banking expertise in providing various solutions to state-owned enterprises (SOE), multinational companies, leading local private companies and Japanese companies, the new-merged bank will become a more universal bank, offering wider range of products and services to its customers.