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Bank Dinar Indonesia, Bank Oke Indonesia postpone merger

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Bank Dinar Indonesia, Bank Oke Indonesia postpone merger

PT Bank Dinar Indonesia Tbk postponed its planned merger with PT Bank Oke Indonesia to May 2, 2019, IDNFinancials reported Dec. 20, citing Bank Dinar Indonesia President Director Hendra Lie.

The banks initially set the merger date to Dec. 19.

Lie said the bank is still preparing the merger process and would discuss the matter on the next extraordinary general meeting of shareholders Feb. 26, 2019, according to a Dec. 19 media report by Kontan.

South Korea's APRO Service Group Co. Ltd. had acquired Bank Dinar Indonesia in October and planned to combine the bank with Bank Oke Indonesia, which it acquired in 2016.