Bandung, 22 January 2019
PT Bank Nusantara Parahyangan Tbk ("Bank BNP") and PT Bank Danamon Indonesia Tbk ("Bank Danamon") have publicly announced the Abridged Merger Plan today.
The published Abridged Merger Plan outlines the details of the proposed merger, including the name of the merged entity, which will be PT Bank Danamon Indonesia Tbk. The proposed merger is subject to the approvals of relevant regulatory authorities, both banks' shareholders, and the completion of other formalities customary to transactions of similar nature.
The merger represents MUFG's long-term commitment to Indonesia, and is to the benefit of both Bank BNP and Bank Danamon as well as its stakeholders and the Indonesian banking sector. Bank Danamon is one of Indonesia's largest banks and MUFG is one of the world's largest financial groups. We believe that MUFG's investment in Bank Danamon and Bank BNP's subsequent merger with Bank Danamon will add value to Bank BNP's customers through a more diversified banking platform. We will be able to tap on Bank Danamon's and MUFG's strengths, expertise and network to catalyze Bank BNP's growth and deliver long term value to all stakeholders. The areas of collaborations and synergies include leveraging on Bank Danamon's scale to achieve more effective distribution network, more diversified loan portfolio and product offerings, lower cost of funding and improved productivity of systems and operations. Additionally, the collaboration and synergy with Bank Danamon will positively contribute to the growth of the Indonesian banking sector and economy.
Throughout the merger process and subject to the legal effectiveness of the merger, Bank BNP will remain committed to its existing strategy, and business operations will continue as usual. We will continue to deliver the same high quality service and support to our customers and partners. Any change in products and services as a result of the merger, if any, will be communicated promptly through our official channels.
Please refer to the Merger Plan Announcement published in the newspapers on 22 January 2019 or https://www.bankbnp.com/en/p/corporate-action for more information.
As the proposed merger is subject to regulatory and shareholders' approvals and has closing conditions customary for a corporate action of this nature, all parties are advised to exercise caution when trading their shares.
For further information, please contact: