Bank BTPN Asset Merger Enters Top 10

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03/08/2018 16:48 WIB

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If the merger plan is completed, BTPN Bank's assets are projected to reach Rp 179 trillion.

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Bank BTPN Asset Merger Enters Top 10

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Top 15 Banks by Assets as of June 2018

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PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) and Sumitomo Mitsui Banking Corporation (SMBC) officially submitted a merger application to the Financial Services Authority (OJK) on August 2, 2018. If the merger is completed, the new entity's assets are estimated to reach Rp 179 trillion, placing it among the top nine largest banks in Indonesia by assets, surpassing both Bank OCBC NISP and Bank Permata.

BTPN and SMBCI are subsidiaries of Sumitomo Mitsui Banking Corporation (SMBC). SMBC, a Japanese bank, holds a 40% stake in BTPN and a 98.48% stake in SMBCI. According to BTPN's President Director, this merger will create a larger and stronger bank, better equipped to meet the growing financing needs across various sectors in Indonesia, both retail and wholesale.

Bank Mandiri remains the largest bank by assets, with a value reaching Rp 1,155.55 trillion. Bank BRI follows in second place with Rp 1,153.23 trillion in assets, and Bank BCA holds the third position with Rp 791.73 trillion.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."