ANT, Fathan Qorib, Jazmi Adlan Bohari
Hatta Rajasa, the Coordination Minister for the Economy, has questioned the acquisition plan of PT Bank Tabungan Negara Tbk (BTN) by PT Bank Mandiri Tbk (Mandiri) to the Minister of State-Owned Enterprises (BUMN).
In order to execute the acquisition plan, there should be a discussion between both of the Ministries. However, according to Mr. Rajasa, the Coordination Ministry has not yet received any report on the acquisition plan.
“Until now, there has been no discussion on this acquisition plan. We merely hear things from the media, social media, and other platforms. Hence, I questioned the bona fides of the plan,” said Mr. Rajasa in Jakarta on Monday.
Mr. Rajasa explained that the procedures for the acquisition of BUMN banks requires that there be prior communication from the Ministry of BUMN to the Coordinating Ministry for the Economy and the House of Representatives.
Upon establishing communication, every stakeholder should have a meeting with the cabinet and other related parties. The Ministry of BUMN then will later explain the reasons and purpose of the acquisition plan at the meeting.
“I personally have not discussed the plan yet. So, I can’t say whether I agree or not. It should be analyzed by a solid and strong team,” said Mr. Rajasa.
Previously, the Government’s planned to sell its ownership of 60.14 percent of BTN shares to Mandiri and the Ministry of BUMN had agreed to the plan. Dahlan Iskan, the Minister of BUMN, said that BTN will be a subsidiary of Mandiri and will be a different entity in order to boost loan performance.
Meanwhile, Agus DW Martowardjojo, Governor of Bank Indonesia (BI), refused to comment on the BTN-Mandiri acquisition plan. He said that BI is does not have authority over this issue and he suggested that the issue be referred to the Financial Services Authority (OJK) and the Ministry of BUMN.
However, Mr. Martowardjojo confirmed BI’s support for acquisition plan as long as the plan aims to promote a healthier banking activity.
“We are only authorized to oversee monetary and macro-prudential matters,” he said.
Currently, Mr. Martowardjojo added, BI has not received any notification of the acquisition plan.
“Perhaps we will ask Halim Alamsyah (Deputy Governor of BI as well as ex BI officials at the OJK) who supervise macro-prudential matters, but for now, there is no notification,” he added.
(kc)