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Bank Mayora becomes Hibank, with focus on digital services, SMEs
Bank Mayora has been rebranded into Hibank, as parent company BNI wants the lender to focus on digital banking services for small businesses.
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BNI headquarters in Jakarta is depicted in this undated photograph. (Photo: BNI)
S
tate-owned lender BNI has turned its subsidiary Bank Mayora into Hibank and commissioned it to provide digital banking services for small businesses.
The move comes after BNI acquired a controlling stake in the small lender in May 2021 with a plan to turn it into a digital bank.
The corporate action included shares previously owned by the International Finance Corporation, a member of the World Bank Group.
“The change in name and logo of the company already took effect on May 17,” Hibank wrote in a statement on Wednesday.
Read also: Most digital banks only half ‘mature’, OJK says
The lender wrote in June 2022 that it would become a “digital-first SME bank. With BNI backing, it was preparing products and services to support micro, small and medium enterprises (MSMEs) in Indonesia.
Prior to the rebranding, BNI appointed a new board of directors with backgrounds in consultancy, start-ups, fintech and banking.
