BANKING - JAKARTA. The process of acquiring 100% shares of PT Bank Commonwealth by PT Bank OCBC NISP Tbk (NISP) is becoming clearer, with a completion target of May 1, 2024.
The merger of these two banks has the potential to change the map of the largest bank assets in Indonesia, as it will increase OCBC NISP's assets and open opportunities to rise to the top 10 banks with the largest assets.
Based on OCBC NISP's financial report as of November 2023, the total assets of this bank reached IDR 253.25 trillion, while the total assets of Commonwealth Indonesia in the same period were IDR 16.48 trillion.
With the merger of the assets of the two banks, the total assets of OCBC NISP become IDR 269.72 trillion, strengthening its position among the top 10 banks with the largest assets.
In November 2023, OCBC NISP displaced Bank Permata, which had assets of IDR 244 trillion, and after the acquisition is completed, OCBC NISP's assets are expected to continue to increase.
In the category of private banks with the largest assets, OCBC NISP is in third place, after Bank Central Asia (BCA) and Bank CIMB Niaga. The total assets of CIMB Niaga as of November reached IDR 323.5 trillion, and this position could be displaced by OCBC NISP depending on the business performance of the two banks.
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However, according to Economist and Professor of the University of Indonesia, Budi Frensidy, OCBC NISP is still far from the KBMI 4 bank that has large assets in the banking industry.
The growth of bank assets is in line with the improvement of credit performance and the growth of third-party funds (DPK). CIMB Niaga's President Director, Lani Darmawan, is optimistic about maintaining credit growth along with DPK growth. In the Q4 2023 financial report, CIMB Niaga targeted DPK growth of about 10% YoY.
Bank Tabungan Negara (BTN) is also trying to increase its assets, especially with plans to release its Sharia Business Unit (UUS).
BTN's President Director, Nixon Napitupulu, is optimistic that BTN Sharia's assets can reach above IDR 50 trillion by the end of 2023, in line with government stimulus in the housing sector and high public interest in Sharia financing.
