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2. New Name for State-Owned Islamic Bank in Indonesia Revealed after Three-Way Merger

A new name for a full-fledged Islamic bank in Indonesia has been revealed Friday by the three state-owned Islamic banks that will soon be merged.

The three banks are PT Bank BRI Syariah, PT Bank Syariah Mandiri, and PT Bank BNI Syariah. Each is an unlisted unit of state-owned Bank BRI, Bank Mandiri, and Bank BNI.

If it is approved by the relevant regulators, the new identity of the merged banks will be called PT Bank Syariah Indonesia Tbk.

“Alhamdulillah [praise be to God], now we have a new name that will become the identity of the merged banks. This new identity has fueled our enthusiasm to complete the merger process and integration the best we can,” said BRI Syariah president director Ngatari in a statement on December 11.

The new name will also be followed by a new logo soon.

After the merger, the institution would be the biggest Islamic lender in the country with the world’s largest Muslim population.

The combined assets of the three banks would reach 207 trillion rupiahs ($14.08 billion).

Source: https://money.kompas.com/read/2020/12/11/093636126/ini-nama-baru-hasil-merger-3-bank-syariah-bumn.