Wednesday, May 29, 2024

Abu Dhabi Islamic Bank explores stake acquisition of Bank Syariah Indonesia

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Abu Dhabi Islamic Bank (ADIB) is reportedly in talks to acquire a stake in PT Bank Syariah Indonesia (BRIS) worth approximately US$1.1 billion (IDR 17.98 trillion).

One of the options being considered by Abu Dhabi Islamic Bank is the acquisition of a 15 percent stake in Bank Syariah Indonesia from Bank Rakyat Indonesia (BRI).

However, neither ADIB nor BRIS has commented on the matter.

“What we can convey is that the information above is within the domain of our shareholders,” Corporate Secretary of Bank Syariah Indonesia, Gunawan Arif Hartoyo, said as quoted by Reuters, on Wednesday, April 17, 2024.

Sources from Reuters mentioned that discussions and considerations are still in the early stages, and there is no guarantee that a deal will be reached. Minister of State-Owned Enterprises (BUMN) Erick Thohir previously said that discussions are underway to find new investors for Bank Syariah Indonesia.

He expressed hope that the new investors would help BRIS become a globally growing Islamic bank.

“At present, BRIS is ranked 12th, but perhaps it could enter the top 10. We encourage partners who could facilitate BRIS to open offices in London, Riyadh, Mecca, Medina, and Dubai,” Erick said last September.

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