JAKARTA: PT Bank Maybank Indonesia Tbk has begun operating as an integrated financial group, bringing together its banking and other financial services under a single ecosystem.
The bank said the development followed the completion of its acquisition of shares in three financial services entities, namely Maybank Sekuritas Indonesia, Maybank Asset Management and Asuransi Etiqa Internasional Indonesia.
Its president director Steffano Ridwan said in a statement that the start of operations as an integrated financial group marked an important step in strengthening Maybank’s capabilities in Indonesia to serve and meet customers’ financial needs.
“With a range of capabilities that are now increasingly integrated, customers can access a more complete range of Maybank financial solutions within a single ecosystem, from banking services, investment, wealth management and insurance, to various non-bank financial solutions,” he noted.
The completion of the acquisitions follows shareholders’ approval in June for Maybank Indonesia to become the operational financial conglomeration holding company of the Maybank Financial Conglomerate in Indonesia, and to acquire majority interests in the three entities.
Under the integrated structure approved by Indonesia’s Financial Services Authority, the group now comprises Maybank Sekuritas Indonesia, Maybank Asset Management, Asuransi Etiqa, Maybank Finance and Wahana Ottomitra Multiartha, alongside Maybank Indonesia.
Commenting on the benefits of the integration, Steffano pointed out that it would enable the bank and its member entities to further strengthen synergies and optimise their respective strengths and expertise in providing more comprehensive financial solutions, ultimately creating added value for customers and stakeholders. — Bernama
