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View all search resultsBTPN enters valuation phase for Bank Sumitomo merger
PT Bank Tabungan Pensiunan Nasional (BTPN) announced on Monday that it had entered the formal assessment period prior to its planned merger with PT Bank Sumitomo Nasional.
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PT Bank Tabungan Pensiunan Nasional (BTPN) logo (Courtesy of/Bank BTPN)
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T Bank Tabungan Pensiunan Nasional (BTPN) announced on Monday that it had entered the formal assessment period prior to its planned merger with PT Bank Sumitomo Nasional (SMBCI).
“The management of both BTPN and SMBCI are very positive about the merger,” BTPN secretary and compliance director Anika Faisal told the press on Jan 29.
“We are in the early stages of the assessment and there are many things to do, including consulting with the regulator,” she added, referring to the Financial Services Authority (OJK).
The new name and timeline for the merger still needed to be discussed with shareholders, Anika said. She added that a change in the composition of shareholders might be a possibility, depending on the valuation results. (yan/bbn)
