JAKARTA - Bangkok Bank Public Co Ltd, which owns a controlling stake in PT Bank Permata Tbk (BNLI), will integrate the operation of three Bangkok Bank branches into Bank Permata starting from 21 December 2020. The three branches are located in Medan, Jakarta, and Surabaya.
According to a stock exchange filing published on Wednesday (7/10), the integration plan will be finalised at an AGM on 1 December 2020, and the decision will likely be approved by the Financial Services Authority (OJK) on 14 December 2020.
The plan surfaced after Bangkok Bank acquired a 89.12% stake previously owned by Standard Chartered PLC and PT Astra Internasional Tbk (ASII) in Bank Permata. BNLI's controlling shareholder plans to cease Bank Bangkok's operation in Indonesia, but will not change the name and logo of Bank Permata following the integration. (LK/MS)