PT Bank Commonwealth Officially Becomes Part of PT Bank OCBC NISP Tbk [Yahoo! Finance]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance
JAKARTA, Indonesia May 6, 2024 /PRNewswire/ -- PT Bank OCBC NISP Tbk (OCBC) has announced the completion of its acquisition of PT Bank Commonwealth (PTBC). As a result, 100% of PTBC's shares are now fully owned by OCBC effective 1 May 2024 For the time being, PTBC will continue to operate independently until the merger process between OCBC and PTBC is completed, estimated by the fourth quarter of 2024. During this period, PTBC will continue to serve customers as usual through its banking channels and products, including banking transactions at PTBC branches and through its digital channels. Parwati Surjaudaja, President Director of OCBC said "As one of the banks with the highest credit-rating in Indonesia , and with a strong track record, PTBC has an attractive and complementary customer base in consumer banking and SME segments (retail). We plan to leverage the combined capabilities of both entities to broaden OCBC in Indonesia's products and services, and capture financial serv
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