PT Bank Negara Indonesia (BBNI) has addressed the speculation surrounding Sea Group, the parent company of Shopee, potentially becoming a minority shareholder in PT Bank Hibank Indonesia.
Established in 2009, Sea Ltd (Sea) is a global Singaporean tech conglomerate that focuses on consumer internet, integrated platform e-commerce, digital entertainment, and digital financial services.
Sea Group, currently BNI’s IT partner, has also been collaborating with Hibank in the field of technology, and rumors are rife about their possible involvement as a stakeholder.
BNI’s Corporate Secretary, Okki Rushartomo, said that the bank has conducted a thorough evaluation of potential strategic technology partners for Hibank.
This collaboration aims to enhance Hibank’s technological capabilities, supporting its transformation into a digital bank.
Okki emphasized that Sea Group’s potential role as a minority shareholder would not have a significant impact on Hibank’s business or banking services.
Hibank is currently exploring other potential collaborations that align with its long-term vision and business strategy.
“There are no further plans with Sea Group,” Okki said in a disclosure to the Indonesia Stock Exchange (IDX) on Thursday, October 10, 2024.
Previously, BNI officially acquired a 63.92 percent stake in Bank Mayora, bringing it under the BNI Financial Conglomerate.
The acquisition aims to transform Hibank into a digital bank focusing on the Micro, Small, and Medium Enterprises (MSME) segment.
As part of this transformation, Bank Mayora has been rebranded as PT Bank Hibank Indonesia, commonly referred to as ‘hibank.’ The name change was approved by the Financial Services Authority (OJK) through an official letter on May 17, 2023.
BNI is currently evaluating two potential roles for Sea Group in Hibank’s future − either as a technology provider or as a minority shareholder. Both options remain open and are still under consideration.
