Bank Mayora has been rebranded into Hibank, as parent company BNI wants the lender to focus on digital banking services for small businesses.
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.
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