PT FinAccel Teknologi Indonesia, a directly controlled subsidiary of FinAccel, has acquired a majority stake in Bank Bisnis Internasional.
According to FinAccel, the acquisition represents a very significant step in its expansion strategy of serving customers with a wide variety of financial services, from digital credit and BNPL to digital banking and larger-ticket loans in the future.
The acquisition – which is set to be completed by the end of the week – will see FinAccel own 75% of Bank Bisnis, with the Suriadi family – the previous majority owners – still retaining a substantial minority stake.
FinAccel co-founder and group CEO Akshay Garg said, “While Kredivo has been at the forefront of consumer credit digitisation via our BNPL business over the last several years, the digitisation of Indonesian banking services is only getting started. In line with our mission to serve customers with products that are fast, affordable and widely accessible, we look forward to serving customers with world-class banking products in the future. We are also very grateful to the Suriadi family for their support and cooperation during this year-long acquisition process.”
Lead shareholder representative for the Suriadis Purnawan Suriadi added, “Bank Bisnis has a long and proud heritage. As the banking sector rapidly digitizes, we are very excited to bring in FinAccel Teknologi as the new majority shareholder of the bank, and look forward to working with them in their vision of building the leading digital bank franchise in Indonesia.”
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