Bank Jatim Appointed as Controlling Shareholder of Bank Banten

Significant Banking Sector Consolidation

In a strategic move to strengthen regional banking cooperation, PT Bank Pembangunan Daerah Jawa Timur Tbk (BJTM), known as Bank Jatim, has been officially appointed as the second controlling shareholder and banking group parent company of PT Bank Pembangunan Daerah Banten Tbk (BEKS), or Bank Banten. This decision was made during an Extraordinary General Meeting of Shareholders (EGMS) held on December 2, 2025.

Regulatory Framework and Implementation

The appointment is subject to approval from the Financial Services Authority (OJK), as mandated by OJK Regulation No. 12/POJK.03/2020 concerning Consolidation of Commercial Banks. The regulation ensures that such significant transactions comply with established banking consolidation guidelines. The EGMS also approved Bank Banten's 2026 recovery plan, aligning with prevailing regulations.

Transaction Details and Strategic Implications

In November 2025, Bank Jatim acquired 27.51 million shares (275,119 lots) of Bank Banten at Rp27 per share, amounting to Rp742.82 million. This transaction was executed in the secondary market as part of the formation of a Banking Group Parent Company (KUB) between Bank Jatim and Bank Banten. The move is expected to enhance operational synergies and strengthen both banks' market positions.

Future Outlook

The consolidation is anticipated to yield several benefits, including improved operational efficiency, enhanced risk management, and better market competitiveness for both institutions. As Bank Jatim assumes its new role, it will likely drive strategic initiatives to optimize resources and expand services within the banking group.