State-Owned Banks Undergo Significant Leadership and Governance Changes Through EGMS

Overview of Changes Across Himbara Banks

The state-owned banks under Himpunan Bank Milik Negara (Himbara) - comprising PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Bank Negara Indonesia (Persero) Tbk (BBNI), and PT Bank Syariah Indonesia Tbk (BRIS) - conducted their Extraordinary General Meetings of Shareholders (EGMS) between mid-December and late December 2025. These meetings resulted in significant changes in leadership positions and corporate governance structures across these major Indonesian banks.

Bank Mandiri's Leadership Reshuffle and Governance Enhancements

PT Bank Mandiri (Persero) Tbk held its EGMS on December 19, 2025, where shareholders approved a significant reshuffle of the board of commissioners. Zulkifli Zaini was appointed as the new President Commissioner, replacing Kuswiyoto, while M. Rudy Salahuddin Ramto took over as Vice President Commissioner from Zainudin Amali. B. Bintoro Kunto Pardewo was appointed as an Independent Commissioner. The changes were made to strengthen the bank's oversight and strategic direction. The EGMS also approved amendments to the bank's Articles of Association, particularly to enhance the supervisory framework in line with the new State-Owned Enterprises Law.

Bank Syariah Indonesia's Legal Status Upgrade

In a significant move, PT Bank Syariah Indonesia Tbk (BRIS) held its EGMS on December 22, 2025, where shareholders approved the change of the bank's legal status to 'Persero', making it a state-owned enterprise. This change aligns with the government's efforts to strengthen the role of state-owned banks in the economy. The EGMS also approved various amendments to the bank's Articles of Association, including adjustments to the company's term of establishment and the strengthening of the government's special rights through the Series A Dwiwarna shares.

Leadership Changes at Bank Rakyat Indonesia

PT Bank Rakyat Indonesia (Persero) Tbk conducted its EGMS on December 17, 2025, resulting in significant changes to its leadership. The meeting decided to honorably dismiss Agus Noorsanto (Deputy President Director), Achmad Solichin Lutfiyanto (Director of Human Capital & Compliance), Mucharom (Director of Risk Management), and Nancy Adityasari (Director of Consumer Banking). Viviana Dyah Ayu Retno Kumalasari was promoted to Deputy President Director, while new directors were appointed: Mahdi Yusuf (Director of Legal & Compliance), Ety Yuniarti (Director of Risk Management), Aris Hartanto (Director of Consumer Banking), and Achmad Royadi (Director of Finance & Strategy).

Bank Negara Indonesia's Leadership and Governance Adjustments

BBNI held its EGMS on December 15, 2025, where shareholders approved the appointment of Febrio Nathan Kacaribu as Commissioner, replacing Suminto whose term ended on October 8, 2025. The meeting also approved changes to the bank's Articles of Association to align with the new State-Owned Enterprises Law, particularly regarding the supervisory framework by the Operational Holding. Additionally, the EGMS delegated authority to the Board of Commissioners to approve the 2026 Work Plan and Budget (RKAP) after obtaining written approval from the majority Series B shareholders.

Implications of the Changes

The series of EGMS meetings across Himbara banks demonstrate the government's commitment to strengthening the governance and operational efficiency of state-owned banks. The leadership changes and governance adjustments are expected to enhance the banks' ability to support national economic growth and development. The changes also reflect the banks' efforts to adapt to the evolving regulatory landscape and improve their competitiveness in the banking industry.