Merger Niaga Bank – Lippo Bank was Complete
Merger process between Malaysia’s Commerce International Merchan Bankers (CIMB) Sdn Bhd Niaga Bank and Lippo Bank has complete. CIMB group now hold a controlling share ownership of 77.75 percent of CIMB Niaga Bank.
After merger, assets of CIMB Niaga Bank is around Rp. 100 trillion (US$ 1 billion) with 650 branch offices in Indonesia and 11,000 employess from 120 Indonesia cities will be working at CIMB Niaga Bank. Now, CIMB Niaga Bank is the nation’s sixth largest bank by assets.
The merged of Bank Niaga and Bank Lippo is owned indirectly by Malaysia-based Khazanah Nasional Berhad, which also owns most shares of the CIMG Group (www.thejakartapost.com).
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