JAKARTA. Tolaram Group Inc, the controlling shareholder of Bank Amar Indonesia TBk (AMAR) with 57.49% ownership, transferred 18.4% of its portion to Investree Singapore Lte Ltd (Investree Group). This divestment is a form of a synergy strategy to expand financing products and digital business solutions.
Gaby Diovani, Corporate Secretary of Bank Amar, in the information disclosure in Indonesia Stock Exchange (IDX), explained that the said transaction did not affect the status of the controlling shareholder. As of now, there has also not been any impacts on business activities and financial conditions of Bank Amar.
Navin Nahata, Managing Director of Fintech and Infrastructure of Tolaram, claimed that Investree’s profound knowledge regarding the local market in terms of micro, small, and medium enterprises (MSMEs) financing system will enable Amar Bank to accelerate its product diversification plans. It will then cater to Indonesia’s essential, yet historically ignored economy segment.
On the other hand, Adrian Gunadi, Director of Investree Group as well as Co-Founder and CEO of Investree, mentioned in a press release yesterday (10/5) that this acquisition is intended to bridge and form a cohesive collaboration between fintech and banks. It also wishes to invent new products to offer digital financing servies and well-integrated business solutions, as well as widen the business scope to potential debtors and MSMEs in cities included in Amar Bank’s network.
Investree Group, operating in Indonesia under PT Investree Radhika Jaya, is said to commit to extend the financial services for MSMEs through digital banking solutions. (AM/ZH)