OJK Confirms Cancellation of Nobu and MNC Bank Merger Plans

Background and Decision

The Financial Services Authority (OJK) has officially confirmed the cancellation of the planned merger between PT Bank Nationalnobu Tbk (NOBU) and PT Bank MNC Internasional Tbk (BABP) ¹

²

Source 2

https://finansial.bisnis.com/read/20251122/90/1930838/fix-ojk-ungkap-merger-nobu-mnc-bank-babp-resmi-batal

. According to Dian Ediana Rae, OJK's Head of Banking Supervision, both banks have decided to terminate their merger plans as reported to the regulator ¹

Source 1

https://keuangan.kontan.co.id/news/resmi-batal-merger-ojk-minta-nobu-dan-mnc-bank-lakukan-hal-ini

.

Rationale and Future Directions

The OJK has accepted the cancellation request with the expectation that both banks will focus on their pre-planned growth targets, thereby contributing more effectively to national economic growth ¹

. Instead of the merger, OJK has requested that the controlling shareholders of both banks continue to strengthen their capital structure through additional capital injections and/or strategic investor participation ¹

Source 1

https://keuangan.kontan.co.id/news/resmi-batal-merger-ojk-minta-nobu-dan-mnc-bank-lakukan-hal-ini

.

Recent Developments and Shareholding Changes

Recent shareholding maneuvers have indicated the diminishing likelihood of the merger. On August 26, 2025, PT MNC Kapital Indonesia Tbk (BCAP) increased its stake in MNC Bank by 9.99%, bringing its total ownership to 48.83% ¹

. Conversely, Lippo Group's entity, PT Prima Cakrawala Sentosa, divested its entire 10% stake in MNC Bank while increasing its holding in Bank Nobu by acquiring 747.8 million shares from PT MNC Land Tbk (KPIG) ¹

Source 1

https://keuangan.kontan.co.id/news/resmi-batal-merger-ojk-minta-nobu-dan-mnc-bank-lakukan-hal-ini

.

Strategic Investor Entry

The merger cancellation follows significant strategic investment movements. Hanwha Life Insurance Co., Ltd., a major South Korean insurer, acquired a 40% stake in Bank Nobu by purchasing 2.99 billion shares, potentially altering NOBU's long-term strategy ¹

.