JAKARTA - PT Bank OCBC NISP Tbk (NISP) acquires 99% of shares of Commonwealth Bank of Australia (CBA) in PT Bank Commonwealth (PTBC) for IDR 2.2 trillion.

Hartati, Director of Bank OCBC NISP, said that the signing of this agreement with CBA took place last Thursday (16/11). “The completion of transaction plan will depend on the fulfilment of preliminary terms and conditions as agreed by the parties involved in the agreement, including the approval from OJK regarding the acquisition of PTBC’s shares by the company,” she explained, as quoted from the information disclosure.

NISP and CBA are not affiliated, thus not prompting any conflict of interests between two parties.

According to Hartarti, the company will also acquire the remaining 1% of PTBC’s shares from another shareholder. “PTBC will become a subsidiary and consolidated into the company,” she confirmed.

The acquisition of CBA’s shares in PTBC aims to support the banking architecture program and banking consolidation in Indonesia. (LK/ZH)