Jakarta: Maybank Indonesia's shareholders have given the green light for the bank to establish itself as the operational holding company of the Maybank Financial Conglomerate in Indonesia.
According to BERNAMA News Agency, the approval was granted during an extraordinary general meeting of shareholders. This pivotal move also includes the acquisition of majority stakes in Maybank Asset Management, Maybank Sekuritas Indonesia, and Asuransi Etiqa Internasional Indonesia.
Maybank president and group chief executive officer, Datuk Seri Khairussaleh Ramli, emphasized that establishing Maybank Indonesia as the Financial Conglomeration Holding Company marks a significant milestone for the Maybank Group's ROAR30 strategy. It strengthens its position as a leading financial services group within ASEAN. Khairussaleh, serving as president commissioner of Maybank Indonesia, highlighted that the new structure would enhance the group's capability to serve Indonesian customers through a robust financial services ecosystem.
"By integrating our banking, wealth management, securities, and insurance businesses, we aim to deliver seamless and customer-centric financial solutions that align with the evolving needs of both individuals and businesses across Indonesia," he stated.
The bank's statement underscored that this approval is a critical step in reinforcing Maybank Indonesia's financial services ecosystem, aligning with Indonesia's Financial Services Authority (OJK) Regulation No. 30 of 2024 on Financial Conglomerates and Financial Conglomeration Holding Companies.
Maybank Indonesia's president director, Steffano Ridwan, noted that the new structure transcends a mere corporate reorganisation. "We express our gratitude to OJK for its guidance and support throughout this process. This Financial Conglomerate enhances our ability to generate greater synergies across the group's entities, accelerate innovation, and drive sustainable growth while creating long-term value for all stakeholders under our Humanising Financial Services mission," he commented.
Following the completion of the share acquisitions, the Maybank Financial Conglomerate in Indonesia will include Maybank Indonesia as the Financial Conglomeration Holding Company, along with Maybank Sekuritas Indonesia, Maybank Asset Management, Asuransi Etiqa Internasional Indonesia, Maybank Indonesia Finance, and Wahana Ottomitra Multiartha Tbk (WOM Finance).
Additionally, shareholders approved amendments to the bank's Articles of Association to support the new structure and ensure compliance with OJK Regulation No. 30 of 2024.
In a separate decision, shareholders accepted the resignation of Effendi as Maybank Indonesia's Director of Risk Management. Steffano expressed appreciation for Effendi's dedication, hard work, and valuable contributions during his tenure with the bank.