JAKARTA, RAKYAT NEWS – The Hanwha Life Insurance Co. Ltd., a South Korean conglomerate, recently announced its plan to acquire 40% of PT Bank Nationalnobu Tbk (NOBU) shares, totaling approximately 2.9 billion units. This significant move has raised questions about the future of a planned merger between NOBU and PT Bank MNC Internasional Tbk (BABP).

The merger, which was originally seen as a potential model for voluntary mergers in Indonesia, now faces uncertainty due to the new acquisition. Both NOBU, controlled by the Lippo Group’s Riady family, and MNC Bank, owned by Hary Tanoesoedibjo, had previously been in talks to merge, but this new development has complicated the situation.

The merger between NOBU and MNC Bank was initially set to be completed by August 2023, according to the Financial Services Authority (OJK). However, delays in meeting the required minimum capital of IDR 3 trillion for general banks pushed the merger timeline back.

By the beginning of 2023, both banks had met the capital requirements, with MNC Bank’s capital reaching IDR 3.35 trillion and NOBU’s at IDR 3.1 trillion. Despite this, the merger process has not proceeded as expected, causing confusion among stakeholders about the next steps.

The OJK has emphasized that the decision to merge rests entirely with the controlling shareholders of both banks. Dian Ediana Rae, head of banking supervision at OJK, reiterated that the authority supports corporate actions that contribute to the strength and competitiveness of the banking sector.

However, she clarified that the timeline and execution of the merger depend on the decisions made by the banks’ shareholders. The OJK’s role is to ensure that any merger results in a stronger and more efficient banking system, capable of positively impacting the national economy.