Indonesia's state-owned BNI enters digital banking with Bank Mayora acquisition

Jakarta, Indonesia. Photo: Sopan Sopian/Pixabay

State-owned PT Bank Negara Indonesia Tbk (BNI) has announced plans to acquire a 63.92% stake in PT Bank Mayora, a small-sized domestic lender, as part of efforts to enter the digital banking space.

BNI will enter Bank Mayora’s cap table by acquiring about 1.03 billion new shares and more than 169 million shares owned by the World Bank affiliate International Finance Corporation (IFC). The IFC had injected funds into Bank Mayora in 2015 and has assisted it in business development and good corporate governance.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter