Theindonesiatoday.com - Shariah unit of PT Bank International Indonesia Tbk (BII) is likely to merge into PT Bank Maybank Syariah Indonesia (Maybank Syariah), Investor Daily reported this morning.
Dato Sri Abdul Wahid Bin Omar, president and chief executive officer (CEO) of Maybank and BII's commissioner, said the shareholders of both companies have yet to make decision but he admits both parties have plan for merger.(source)
Mulya E Siregar, director of syariah bank directorate at Bank Indonesia (BI), also said Maybank is still considering when it will spin off BII's syariah unit for being merged into Maybank Syariah.
As of now, Maybank Islamic (Maybank global syariah business) has disbursed financing of more than US$15 billion and has total assets of above US$20 billion, contributed 23.5% to total aset of Maybank Group.
BII's shariah unit and Maybank Syariah only contributed syariah financing of US$150 million to Maybank Islamic, or 2% of total assets of Maybank Group. ( hans@theindonesiatoday.com)
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