Merger of BUMN Sharia Bank, Controlling Bank Mandiri & BRIS Stock Code, JAKARTA – The merger of Islamic banks belonging to state-owned banks is in sight. Confusion over who the controlling shareholder is and the status of the bank after the merger has begun to emerge. PT Bank Mandiri (Persero) Tbk. is said to be the controlling shareholder.

The company’s status is reportedly open by maintaining the share code belonging to PT Bank BRI Syariah Tbk. (BRIS). There are three banks that will be merged, namely PT Bank Syariah Mandiri (Mandiri Syariah), PT BNI Syariah, and BRIS.

According to a Bisnis source, the share ownership scheme is still in the discussion stage between shareholders, even though the merger agreement was signed through a conditional merger agreement on Monday (13/10/2020). Today, the merger plan will officially be made public.

However, Bank Mandiri as the owner of the largest Islamic bank in Indonesia, Mandiri Syariah, will become the controlling shareholder. “Bank Mandiri, as the controlling shareholder, will then be divided between BNI and BRI,” he told Bisnis.

The merged bank has an open status because currently BRI Syariah is the only issuer in this corporate action. This source is still reluctant to open up a corporate action scheme by maintaining public ownership.

As is known BRIS is owned by the public as much as 18.33%, while the rest is controlled by PT Bank Rakyat Indonesia (Persero) Tbk. BRI Syariah’s total assets as of June 2020 reached IDR 49.58 trillion, rising IDR 34.75% compared to the same period the previous year IDR 36.79 trillion.


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