KUALA LUMPUR: PT Bank Maybank Indonesia has got the nod from its shareholders at an extraordinary general meeting (EGM) to acquire a majority interest in PT Maybank Asset Management, PT Maybank Sekuritas Indonesia, and PT Asuransi Etiqa Internasional Indonesia as part of the establishment of Maybank Indonesia as the operational financial conglomeration holding company.
In a statement, the group said the share acquisitions were undertaken after obtaining the approval of the respective sectoral regulators overseeing each member of the Maybank Financial Conglomerate
It said the approval marks an important step in strengthening Maybank Indonesia’s financial
services ecosystem in line with Financial Services Authority (OJK) Regulation No. 30 of 2024 on Financial Conglomerates and Financial Conglomeration Holding Companies.
As a financial conglomerate (PIKK), Maybank Indonesia integrates its banking, asset management, securities, insurance and financing businesses under a unified governance, oversight and operating framework within the Maybank Financial Conglomerate structure.
Shareholders also voted at the EGM to approve amendments to the Company's Articles of Association to support the new structure and ensure compliance with POJK No. 30 of 2024.
President and group CEO of Maybank Datuk Sri Khairussaleh Ramli said the establishment
of Maybank Indonesia as a Financial Conglomeration Holding Company represents an important milestone in advancing Maybank group’s ROAR30 strategy and strengthening its
position as a leading financial services group in ASEAN.
"By bringing together our banking, wealth management, securities and insurance businesses, we will be better positioned to deliver seamless and customer-centric financial solutions that meet the evolving needs of individuals and businesses across Indonesia."
President director of Maybank Indonesia Steffano Ridwan said the financial conglomerate strengthens its ability to generate greater synergies across the group’s entities, accelerate innovation and drive sustainable growth, while creating long-term value for all stakeholders in line with its Humanising Financial Services mission.
The Maybank Indonesia financial conglomerate will comprise PT Bank Maybank Indonesia Tbk as the Financial Conglomeration Holding Company (PIKK), while PT Maybank Sekuritas Indonesia, PT Maybank Asset Management, PT Asuransi Etiqa Internasional Indonesia, PT Maybank Indonesia Finance and PT Wahana Ottomitra Multiartha Tbk (WOM Finance) will be members.
