OJK Approves Merger between Bank Danamon and BNP
JFSA Approves Bank Danamon as a Subsidiary of MUFG Bank
Jakarta, 26 April 2019 – PT Bank Danamon Indonesia Tbk (“Bank Danamon”) has been advised by the Financial Services Authority (OJK) that it has granted approval for the merger between Bank Danamon and PT Bank Nusantara Parahyangan Tbk (BNP) with Bank Danamon as the Surviving Bank. Bank Danamon has also been informed by MUFG Bank, Ltd. (MUFG Bank) that the Japan Financial Services Authority (JFSA) has granted approval for the subsidiarization of Bank Danamon by MUFG Bank.
Following the receipt of these approvals, we can proceed with the next steps to complete the legal merger process with Bank BNP, including fulfillment of all requirements customary to corporate actions of this nature. The Merger Effective Date is estimated to be 1 May 2019.