The Merger of State-Owned Islamic Banks: The Plan

By Editorial Team 14/10/2020
Merger
Summary

PT Bank BRI Syariah Tbk (BRIS) has signed a Conditional Merger Agreement (CMA) on the merger of three state-owned Islamic banks, namely BRI Syariah, PT Bank BNI Syariah, and PT Bank Syariah Mandiri (BSM). After the union comes into effect, BRI Syariah will become the surviving entity.

In other words, BNI Syariah and Bank Syariah Mandiri will incorporate themselves into BRI Syariah. “BRIS will be the merged entity, and shareholders of BNI Syariah and BSM will become its shareholders,” BRIS management wrote in information disclosure on Tuesday (10/13).

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