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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. 

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President Director and Chief Executive Officer (CEO) of PT Bank Lippo Tbk, Henk Mulder said that the company’s credit growht by consolidation was reached 42 percent Year on Year (YoY) become to Rp. 24,551 trilliun.

The credit growth has contributing by Lippo group are consist of 39 percent for commercial credit, 33 percent corporation credit and 28 percent consumer credit (including financing was contributed to PT Kencana Internusa Artha).

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Astro demands US$ 258.3 million (Rp. 2.46 trillion) as a compensation from Lippo’s subsidiary PT Direct Vision in a joint pay-TV operation in Indonesia.

PT Direct Vision (DV) was failed to complete the joint venture agreement with Astro, the company should be paid some compensation to Astro for theirs support and services had provided to DV.

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