JAKARTA – PT Bank Mega Tbk (MEGA) plans to complete the transfer of assets and liabilities of PT Allo Bank Tbk (BBHI) by the end of the first half of 2021, a month after the decision is made during the General Shareholders Meeting on May 19, 2022. In order to achieve this objective, MEGA will spend IDR 37.24 billion, taken out of its placements in Bank Indonesia (BI).
Kostaman Thayib, President Director of Bank Mega, believed that the transfer of assets and liabilities from Allo Bank would boost productive assets, the number of users, and the number of branch offices. “If the same transaction is carried out with non-affiliated parties, it will not produce the same benefits as the one with affiliated parties, because there is synergy and control over the quality of services offered by the company,” he explained in the information disclosure quoted Wednesday (20/4).
As of December 2021, MEGA recorded users’ savings of IDR 98.90 trillion, which is projected to rise to IDR 106.09 trillion come December 2022. Its net profit of IDR 4 trillion is also predicted to increase to IDR 4.30 trillion, while its credit of IDR 60.17 trillion will jump to IDR 67.15 trillion. Its placements in BI, amounting to IDR 9.81 trillion, will also shift to IDR 10.19 trillion.
Allo Bank is affiliated with MEGA as they share the same shareholder, PT Mega Corpora (MC). On March 15, 2021, MC acquired 60.88% of Allo Bank’s shares.
It was mentioned that Allo Bank’s assets to be transferred amount to IDR 958.62 billion, while total certain liabilities clock up to IDR 921.38 billion. The reassigned assets and their transferred value include credits of IDR 720.41 billion, foreclosed collateral of IDR 199.77 billion, fixed assets of IDR 33.14 billion, and neglected properties of IDR 5.30 billion. Meanwhile, transferred liabilities are current accounts of IDR 145.76 billion, savings of IDR 53.35 billion, and deposits of IDR 722.25 billion. (LK/ZH)