PT Bank Pan Indonesia (Panin) Tbk ensures to divest 14 percent shares at PT Bank ANZ Panin to Australia and New Zealand Banking Group Limited (ANZ).
The divestment plan still waits for the approval from Bank Indonesia and the Reserve Bank of Australia.
The divestment plan still waits for the approval from Bank Indonesia and the Reserve Bank of Australia.
ANZ was getting more aggressive at the Southeast Asian markets as they are still deemed promising to tap profits. Indonesia and Laos still become one of the focuses for the development. Based on ANZ official statement at the Australian stock exchange early this month, the Australian finance institution here will increase the shares ownership at ANZ Panin Bank by acquiring 14 percent shares of Bank Panin.
In 1993, ANZ took over 85 percent shares from joint venture bank which was then called ANZ Panin Bank. Some 15 percent of the shares were owned by Bank Panin.
Would it be materialized, ANZ ownership of the mixed bank would increase from 85 percent into 99 percent. To finance the transaction ANZ has prepared some US$44 million budget.
In 1993, ANZ took over 85 percent shares from joint venture bank which was then called ANZ Panin Bank. Some 15 percent of the shares were owned by Bank Panin.
Would it be materialized, ANZ ownership of the mixed bank would increase from 85 percent into 99 percent. To finance the transaction ANZ has prepared some US$44 million budget.
ANZ Panin is a bank focusing on institutional business, wealth management, and consumer sector. However, the bank last year had sliding performance.
Based on Central Bank data November 2009, ANZ Panin profit plunged 84.27 percent into IDR28.54 billion as from IDR181.5 billion in previous year.
Based on Central Bank data November 2009, ANZ Panin profit plunged 84.27 percent into IDR28.54 billion as from IDR181.5 billion in previous year.
In terms of expansion, the bank credit slightly grew by 1.9 percent into IDR8.82 trillion if compared to IDR7.39 trillion in the former year.
The bank third party fund stood at IDR11.56 trillion or rose from IDR7.58 trillion.
In addition to ANZ Panin possession, ANZ Banking Group of Australia also owns 37.1 percent shares at Bank Panin. Meanwhile, Panin Life, which is owned by Mu'min Ali Gunawan, controls 45.9 percent and the rest goes public.
It was also said ANZ also targets to become major shareholder at Bank Panin. However, the management of Bank Panin refuted the rumor given that Gunawan still intends to be the major shareholder.
ANZ recently has announced the plan for taking over retail and commercial businesses of Royal Bank of Scotland (RBS) in Indonesia which is scheduled to finish by June 2010.
To acquire RBS, ANZ prepares some US$100 million investment. The acquisition includes 28 branch offices in 11 cities and 1,000 fixed terms employment.
In addition to ANZ Panin possession, ANZ Banking Group of Australia also owns 37.1 percent shares at Bank Panin. Meanwhile, Panin Life, which is owned by Mu'min Ali Gunawan, controls 45.9 percent and the rest goes public.
It was also said ANZ also targets to become major shareholder at Bank Panin. However, the management of Bank Panin refuted the rumor given that Gunawan still intends to be the major shareholder.
ANZ recently has announced the plan for taking over retail and commercial businesses of Royal Bank of Scotland (RBS) in Indonesia which is scheduled to finish by June 2010.
To acquire RBS, ANZ prepares some US$100 million investment. The acquisition includes 28 branch offices in 11 cities and 1,000 fixed terms employment.
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Thanks Marry
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