TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
OCBC NISP, OCBC Indonesia merger approved
JAKARTA: Shareholders of Bank OCBC NISP and Bank OCBC Indonesia have officially approved the two banks’ planned merger, a top executive said TuesdayOCBC NISP president director Parwati Surjaudaja said the merged lender would operate under the name of Bank OCBC NISP,and would have total combined assets of Rp 47
Change Size
J
AKARTA: Shareholders of Bank OCBC NISP and Bank OCBC Indonesia have officially approved the two banks’ planned merger, a top executive said Tuesday
OCBC NISP president director Parwati Surjaudaja said the merged lender would operate under the name of Bank OCBC NISP,and would have total combined assets of Rp 47.6 trillion (US$5.31 billion).“We expect the merger to take effect on January 1, 2011,” Parwati said at a press briefing in Jakarta on Tuesday.
Singapore’s OCBC Bank is the controlling shareholder in both banks. OCBC NISP shares (NISP) closed higher following shareholder approval of the merger, ending at Rp 1,650, up 1.23 percent or 20 points. Shares in OCBC NISP, which has a total market capitalization of Rp 9.6 trillion, have jumped about 57 percent so far this year. — JP
