Allo Bank Begins Digital Ecosystem Consolidation

By Editorial Team 14/04/2022
Digital Banking
Summary

CT Corp digital bank PT Allo Bank Indonesia Tbk (BBHI) transferred its assets and liabilities to an affiliated company, PT Bank Mega Tbk (MEGA). Based on disclosure filing to the Indonesia Stock Exchange (IDX), Allo Bank and Bank Mega have agreed on an asset and liability transfer agreement on April 5. It will be carried out no later than June 30.

The value of assets and liabilities transferred reached Rp 1.88 trillion, consisting of Rp 958.62 billion in assets and Rp 921.38 billion in liabilities. Assets transferred include extended loans, including interest income that will still be received, fixed assets in property and office inventory, and other foreclosed assets and abandoned properties. Meanwhile, liabilities include customer deposits, such as demand deposits, savings, and time deposits with accrued interest.

"The transfer of assets and liabilities will make Allo Bank focus more on digital banking services by utilizing the CT Corpora business group ecosystem and other business groups ecosystem that will cooperate with the company," Allo Bank's Corporate Secretary wrote on Wednesday.

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