My Investment in Bank Index: Shareholder Composition

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Viva Budy Kusnandar 27/04/2022 17:50 WIB

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The Indonesian fintech company Modalku and the automotive marketplace Carro have announced a joint investment in PT Bank Index Selindo.

Shareholder Composition of Bank Index Selindo (Dec 2021 - Mar 2022)

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Shareholder Composition of Bank Index Selindo (Dec 2021 - Mar 2022)

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The financial technology (fintech) company Modalku and car marketplace Carro announced a joint investment (co-investment) in shares of PT Bank Index Selindo. However, the value of the investment has not been disclosed.

In a press statement, Modalku Co-Founder and CEO Reynold Wijaya said this collaboration supports Modalku's business strategy to enter the neobank industry.

Furthermore, Bank Index is considered a suitable partner for Modalku to empower and develop MSMEs (Micro, Small, and Medium Enterprises).

"Since 2015, the Modalku Group has been a partner of the banking industry in all our operations. The partnership with Bank Index will take fintech and banking collaboration to a higher level," said Reynold, as reported by Dailysocial.id, Tuesday (26/4/2022).

"We want to support MSMEs across banking, payments, loans, and digital services," he continued.

Based on the March 2022 financial report, Modalku (Funding Asia Group PTE LTD) holds a 10% stake in Bank Index. Meanwhile, Carro (Trusty Cars PTE LTd) holds a 5% stake. Thus, the two companies hold 15% of Bank Index shares.

With the entry of these two new shareholders, the ownership of existing Bank Index shareholders has been diluted. The details of the dilution are as follows:

* PT Kazanah Indexindo: 7.39 percentage points
* PT Creador Capital: 3.23 percentage points
* PT Asseta Selindo: 2.47 percentage points
* Kurnadi Setiawan: 0.62 percentage points
* SBI Emerging Asia Financial Sector Fund: 0.59 percentage points
* Nederlandse Financierings-Maatschappij: 0.48 percentage points
* Alwi Setiawan: 0.22 percentage points

This corporate action adds to the growing list of fintech companies investing in the Indonesian banking sector.

Previously, the payment company Gopay or PT Dompet Anak Bangsa acquired a 22.16% stake in Bank Jago Tbk.

Then, the fintech company PT Akulaku Silvrr Indonesia acquired a 24.9% stake in Bank Neo Commerce Tbk.

The fintech company Kredivo or PT Finaccel Teknologi Indonesia acquired a 75% stake in Bank Bisnis.

Meanwhile, PT Amartha Mikro Fintek is reportedly going to acquire PT Bank Victoria Syariah, a subsidiary of PT Bank Victoria Tbk.

Editor : Adi Ahdiat

"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."

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My Investment in Bank Index: Shareholder Composition

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