OJK Responds to Two-Year Delay in MNC Bank and Nobu Bank Merger

Despite the ongoing delays, OJK remains optimistic that the merger will eventually be completed successfully. In previous statements, Dian had mentioned that if significant obstacles arise, OJK could enforce the merger, though he expressed hope that such a measure would not be necessary. “If we encounter obstacles at some point, we will consider enforcing the merger,” he had said earlier in 2024.

Rita Montagna, President Director of MNC Bank, reaffirmed that the bank would follow OJK’s guidance regarding the merger. However, she did not provide specifics on the changes in management or board members once the merger is completed, highlighting that the direction will be determined by OJK’s policies.

The initial target for the merger between MNC Bank and Nobu Bank was set for August 2023, but after two years, no concrete progress has been made. OJK is committed to ensuring that the merger, when it happens, will be in the best interest of the banking industry and the economy at large.

As the merger process continues, all eyes remain on OJK’s next steps and whether the authorities will push for a resolution or impose a forced merger if the delay persists further. (Uki Ruknuddin)