PT Bank OCBC NISP Tbk (OCBC) Merges with PT Bank Commonwealth

Jakarta, August 2, 2024 - In a strategic move that marks a new chapter in the Indonesian banking sector, PT Bank OCBC NISP Tbk (OCBC) is pleased to announce its merger with PT Bank Commonwealth (PTBC). This was approved at the Extraordinary General Meeting of Shareholders held at OCBC Tower, Jakarta.

The meeting officially approves all proposed agendas, which included:

1. Approval of the Merger of PTBC with OCBC, where OCBC will be the surviving bank of the Merger, including the Merger Plan and Merger Deed concept.
2. Approval of Resolution Plan Update in connection with the acquisition of PTBC by OCBC.
3. The Amendment of the OCBC Articles of Association in order to comply with OJK regulations regarding the implementation of Sharia Governance.
4. Changes in the Composition of the OCBC Sharia Supervisory Board, appointed Mr Jaenal Effendi as a member of the OCBC Sharia Supervisory Board effective after obtaining OJK approval.

As one of the top 10 banks in Indonesia by assets, the merger represents a strategic step towards continuous growth as a leading private bank in Indonesia. This merger also reflects a commitment to enhance services and capitalize on emerging opportunities in the national banking market.

Parwati Surjaudaja, President Director of OCBC, expressed optimism about the merger, stating, "We believe this merger will bring synergies. By uniting our strengths, OCBC is ready to serve a broader customer base with more comprehensive banking solutions. This merger is also expected to broaden PTBC customers' access to OCBC's extensive network and capabilities in the ASEAN region, Greater China, and other areas, especially in corporate banking services."

Furthermore, the integration of PTBC's retail and SME customers will strengthen OCBC's market position, enlarge the portfolio, and solidify OCBC as a leading private bank in Indonesia. With network spanning over 200 branches in major Indonesian cities, OCBC is committed in advancing retail and SME banking services and strengthening its strategic position in targeted markets.

About OCBC
PT Bank OCBC NISP Tbk 'OCBC' was established in Bandung in 1941 under the name Nederlandsch Indische Spaar en Deposito Bank. Over its 83-year journey, the Bank has undergone several name changes, from 'Bank NISP' to 'Bank OCBC NISP', and subsequently to 'OCBC' on November 14, 2023. As of June 30, 2024, OCBC serves customers through 200 office networks in 54 cities in Indonesia. Furthermore, customers can conduct transaction through the Bank's 492 ATMs, more than 90,000 ATM networks in Indonesia, and access more than 580 OCBC Group ATMs in Singapore and Malaysia. OCBC also serves customers through various digital channels, including mobile banking and internet banking - for both for individuals and corporations. OCBC is one of the banks with the highest credit ratings in Indonesia, namely AAA(_idn)/stable by PT Fitch Ratings Indonesia.

Brand & Communication Division, OCBC
OCBC Tower, Jl Prof Dr Satrio Kav 25, Jakarta 12940
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Email: [email protected]
Website: www.ocbc.id

Aleta Hanafi Division Head [email protected], Mobile: 62-8119860068	Chandra Novita Publicist [email protected], Mobile: 62-8111071069
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