BNI to Transform Mayora Bank into a Digital Bank: What's the Asset Value?

PT Bank Negara Indonesia (Persero) Tbk, or BNI, has received approval to acquire PT Bank Mayora in its Annual General Meeting of Shareholders (RUPST) held on Tuesday, March 15, 2022. This acquisition aims to maximize the bank's reach in the micro, small, and medium enterprise (MSME) segment with minimal operational costs.

Based on financial reports as of September 2021, Bank Mayora's assets totaled Rp9 trillion. This comprises total liabilities of Rp7.75 trillion and equity of Rp1.26 trillion.

Following the acquisition, BNI (stock code BNII) will hold 1.19 billion shares (63.92%) of Bank Mayora's issued and paid-up capital. To execute this corporate action, BNI issued 1.03 billion new shares. This represents approximately 54.9% of Bank Mayora's total issued and paid-up capital.

Furthermore, BNI will also acquire 169.08 million Bank Mayora shares owned by the International Finance Corporation (IFC). In total, BNI will control nearly 1.2 billion shares, equivalent to 63.92%.

Post-acquisition, PT Mayora Inti Utama (MIU)'s ownership in Bank Mayora will decrease to only 25.1%, and IFC's remaining shareholding will be 10.98%. For information, MIU held 80% of Bank Mayora's shares and IFC held 20% as of September 2021.