PT Bank OCBC NISP Tbk (formerly Bank NISP), trading as OCBC Indonesia, is an Indonesian

publicly listed A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (li ...

banking and financial services company headquartered in

South Jakarta South Jakarta (; ), abbreviated as Jaksel, is one of the five administrative cities which form the Special Capital Region of Jakarta, Indonesia. South Jakarta is not self-governed and does not have a city council, hence it is not classified as a ...

Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania, between the Indian Ocean, Indian and Pacific Ocean, Pacific oceans. Comprising over List of islands of Indonesia, 17,000 islands, including Sumatra, ...

. The bank is owned by Singaporean banking and financial group,

OCBC Bank Oversea-Chinese Banking Corporation Limited (), abbreviated as OCBC, is a Singapore, Singaporean multinational corporation, multinational Bank, banking and financial services corporation headquartered at the OCBC Centre. It operates through sub ...

, which holds 85.1% of shares. OCBC is Indonesia's 8th largest bank by assets and has 337 branches and offices and 780 ATMs located across the country.

History

Established in 1941, the bank was founded as ''NV Nederlandsch Indische Spaar en Deposito Bank'' ("Netherlands Indies Savings and Deposito Bank") in

Bandung Bandung is the capital city of the West Java province of Indonesia. Located on the island of Java, the city is the List of Indonesian cities by population, fourth-most populous city and fourth largest city in Indonesia after Jakarta, Surabay ...

, then

Dutch East Indies The Dutch East Indies, also known as the Netherlands East Indies (; ), was a Dutch Empire, Dutch colony with territory mostly comprising the modern state of Indonesia, which Proclamation of Indonesian Independence, declared independence on 17 Au ...

. The bank was one of the largest savings bank at the time of establishment and in 1967, it became a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

providing corporate banking services as well. In 1981, the bank was then renamed to ''PT Bank Nilai Inti Sari Penyimpan (Bank NISP)''. It was among the first banks in Indonesia selected to channel government subsidized credits, to participate in government saving programs, and to issue bank guarantees for government projects. In 1972, Bank NISP entered into a joint agreement with Daiwa Perdania Bank, a joint venture between

Daiwa Bank () is the holding company of , the fifth-largest banking group in Japan as of 2012. It is headquartered in the Kiba area of Koto, Tokyo. The main operating entities of the group are Resona Bank, a nationwide corporate and retail bank headq ...

of Japan and Indonesian partners. Bank NISP later became a shareholder of Daiwa Perdania Bank. The bank subsequently became a licensed foreign exchange bank in 1990, and a publicly listed bank on the Indonesian Stock Exchange in 1994.

1997 to 2008: Joint venture and acquisition by OCBC

In 1997, Bank NISP entered a joint venture with OCBC Indonesia, with the opening of PT Bank OCBC-NISP, with an initial paid-up capital of 150 billion rupiah. Since then, OCBC has been buying shares from shareholders within the bank and also from President Director and CEO, Parwati Surjaudaja, who sold 22.5% of her shares to OCBC in 2004. By 2008, OCBC Bank had become the main shareholder in Bank NISP and the bank was renamed Bank OCBC NISP.

2010 to present: Merger with OCBC Indonesia

In 2011, OCBC NISP merged with OCBC Indonesia, where OCBC Indonesia was dissolved without going through liquidation. The combined entity would operate under the name of Bank OCBC NISP, and a total of Rp 47.6 trillion in combined assets after the merger. Marking the start of an exciting new banking journey, Bank OCBC NISP unveiled "OCBC" as a new brand name and logo, effective November 14, 2023. PT Bank OCBC NISP Tbk (“OCBC Indonesia”) on November 16, 2023 entered into a Sale and Purchase Agreement (“SPA”) with

Commonwealth Bank The Commonwealth Bank of Australia (CBA), also known as Commonwealth Bank or simply CommBank, is an Australian multinational bank with businesses across New Zealand, Asia, the United States, and the United Kingdom. It provides a variety of fi ...

of Australia (“CBA”) to acquire 99.0% of the shares in PT Bank Commonwealth (“PTBC”) from CBA (the “Proposed Acquisition”). OCBC Indonesia also intends to acquire the remaining 1.00% shares of PTBC from the other shareholders. The proposed acquisition is subject to regulatory approvals from Financial Services Authority of Indonesia (Otoritas Jasa Keuangan), Annual General Meeting of Shareholders (AGMS) and satisfaction of certain other conditions. Following completion of the acquisition, PTBC will be integrated into OCBC Indonesia.

Banking services

Individual Customers

* Saving * Consumer credit * Credit card * Bancassurrance * Mutual funds * Premier Service * Private banking services * Trust service * Electronic banking services

Business Customers

* Cash management * Productive financing * Trade finance * Trust services * Electronic banking services

Treasury

* Foreign exchange and derivatives * Debt securities * Interest rate derivatives * Structured product

Sharia Banking

* Sharia funding * Sharia retail financing * Sharia productive financing * Sharia Bancassurance

Management structure

Board of Commissioners

* President Commissioner : Pramukti Surjaudaja * Commissioner : Helen Wong * Commissioner : Lai Teck Poh * Commissioner : Na Wu Beng * Independent Commissioner : Jusuf Halim * Independent Commissioner : Nicholas Tan * Independent Commissioner : Betti S. Alisjahbana * Independent Commissioner : Rama P. Kusumaputra

Board of directors

* President Director : Parwati Surjaudaja * Director : Emilya Tjahjadi * Director : Hartati * Director : Martin Widjaja * Director : Andrae Krishnawan W. * Director : Johannes Husin * Director : Joseph Chan Fook Onn * Director : Lili S. Budiana * Director : The Ka Jit

Sharia Supervisory Board

* Chairperson : Muhammad Anwar Ibrahim * Member : Mohammad Bagus Teguh Perwira

References

External links

Official websiteOCBC Bank website
{{Authority control Banks of Indonesia Banks established in 1941 Companies listed on the Indonesia Stock Exchange 1941 establishments in the Dutch East Indies 1994 initial public offerings Indonesian brands OCBC Bank