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Jakarta, CNBC Indonesia – Moody’s Investors Service said there would be an increase in the contribution of more than 10% from the merged syariah bank to the consolidated performance of PT Bank Mandiri Tbk (BMRI).
Moody’s analyst Tengfu Li said that after the merger, Bank Mandiri’s ownership of Suvivor bank was 51%. This bank itself will be larger than the Islamic bank currently owned by Mandiri.
“Currently, the profit contribution of this sharia subsidiary is around 5% to 10%. And with so many entities with higher operational efficiency, faster growth, we expect the profit contribution of the subsidiaries Bank Mandiri may exceed 5%. That 10%, “Li said when interviewed by CNBC Indonesia TV on Tuesday (10/27/2020).
He said that the merged bank will later generate higher profits because there is operational efficiency and it will be able to grow more aggressively compared to its parent company.
“On the other hand, BNI and BRI will also benefit but at a much lower level, proportionally, given the lower shareholding, 25% and 17% respectively,” he explained.
Regarding the merger of the state-owned Islamic banks, permission from the Financial Services Authority (OJK) is currently in the process of awaiting permission. The merged banks include PT BRISyariah Tbk (BRIS), PT Bank Syariah Mandiri and PT BNI Syariah.
From this merger, BRIS will later become a surviving bank in this BUMN sharia bank merger. The goal of the merger will be effectively completed on February 1, 2021.
This merger will make Bank Mandiri the majority shareholder with 51% ownership.
The other composition of shareholders is PT Bank Negara Indonesia Tbk. (BBNI) 25.0%, PT Bank Rakyat Indonesia Tbk (BBRI) 17.4%, DPLK BRI – Sharia shares 2% and the public 4.4%.
The merged bank will be included in the TOP 10 of the largest banks in Indonesia in terms of assets and in the Top 10 of the largest Islamic banks in the world in terms of market capitalization.
The total assets of the merged bank will reach Rs 215.6 trillion with a core capital of more than Rs 20.4 trillion.
[Gambas:Video CNBC](hps / hps)
