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"Dream - PT Bank OCBC NISP Tbk (OCBC) officially acquired PT Bank Commonwealth (PTBC) starting from Thursday, May 2, 2024. With this corporate action, OCBC becomes the sole shareholder of the British bank operating in Indonesia."
As part of OCBC, PTBC's operational activities will still run independently. The process of merging these two businesses is planned to be completed no later than the fourth quarter of 2024.
Service to PTBC customers will continue as usual through various channels and banking products, including banking transactions at branch offices and Commonwealth Bank's digital channels.
The President Director of OCBC, Parwati Surjaudaja, stated that as one of the banks with the highest credit rating in Indonesia and a good track record, PTBC has an attractive customer base. This bank is also believed to be a complement to the consumer and SME (retail) customer segments.
"The plan is to leverage the capabilities of both entities to expand OCBC's products and services in Indonesia, as well as create opportunities for financial services growth in Indonesia,"
He said, quoted from Liputan6.com, Thursday, May 2, 2024.
Meanwhile, President Director of Commonwealth Bank Lauren Sulistiawati said that with the completion of the acquisition process, PTBC will continue to operate as a separate entity until the merger process.
"PTBC management is committed to ensuring the smooth process of the merger while still providing high-quality banking services to customers. In addition, business activities will continue as usual,"
He said.
The purchase of 100% shares of PTBC is an important milestone that will strengthen OCBC's platform in Indonesia, and reaffirm the Bank's commitment to continue advancing in the growth of financial services in Indonesia.
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