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BNI completes two corporate actions to affirm transformation
PT. Bank Negara Indonesia (Persero) Tbk (BNI) took the opportunity of recovery after the pandemic seriously, the state-owned enterprise is rushing to seize performance growth opportunities by completing the takeover of Bank Mayora and establishing BNI Venture Capital, its latest subsidiary company.
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T. Bank Negara Indonesia (Persero) Tbk (BNI) took the opportunity of recovery after the pandemic seriously, the state-owned enterprise is rushing to seize performance growth opportunities by completing the takeover of Bank Mayora and establishing BNI Venture Capital, its latest subsidiary company. Both of them emphasize BNI's determination in exploring digital business potential and deepening its business base in an increasingly broad supply chain.
Market niches in the micro, small, medium enterprises (MSMEs) and retail segments will also be explored, especially in the development of Bank Mayora in the future. The segment has enormous potential that can integrate into BNI's existing businesses.
Corporate secretary Mucharom said that BNI had also completed the establishment and equity participation of BNI Venture Capital. The venture capital was already included in the BNI 2022 Bank Business Plan. The Financial Services Authority (OJK) has approved BNI to make a capital investment of Rp 500 billion (USD 34 million).
Mucharom said the establishment is a part of BNI strategies in response to the potential for digital banking development.
“Of course, there is a lot of potential in business development for BNI Group and BNI Venture Capital, especially in the development of digital business in Indonesia,” he said.
Mucharom continued that BNI Venture Capital is BNI Group’s strategic vehicle to develop technological innovations within the group’s internal company. The company will now be able to answer the need for capital participation in potential start-up businesses.
“We hope to accelerate the digital transformation in all BNI business lines to add more value while optimizing Indonesia’s digital economy,” he said.
Bank Mayora leverages cross-selling
At the same time, Mucharom said that Bank Mayora is prepared to seize potential business development opportunities for the small and medium enterprises (SMEs) segment across Indonesia, with the starting point being the BNI and Mayora Group value chain.
There is also a potential for developing cross-selling products in the consumer segment, especially for SME retail customers and their personal needs. “This segment is very large and has potential. We will continue to integrate with the Mayora Group as one of the largest fast moving consumer goods companies in Indonesia and it has an extensive network to create more unique and competitive business segments,” he said.
Mucharom added that his company would devise a rebranding of Bank Mayora. The bank will intensify its efforts in digital banking.
With its strong low-cost funds, BNI will encourage lower interest rate loans than the current interest rates for MSMEs. “Upcoming digital banking innovations will encourage quality credit distribution with low interest rates,” he added.
Mucharom continued that the acquisition had been completed. BNI is currently working closely together with its partner, Sea Limited. “Now, our tech partners are involved in the preparation of business models and information technology models. We have formed a business development with formations at home and abroad”.
