Bank Permata

PT Bank Bali Tbk was incorporated in December 17, 1954. It started its commercial operations on January 5, 1955 and obtained an operating license on February 19, 1957. The Bank also obtained licenses to engage in foreign exchange and sharia banking activities on May 8, 1956.[2]

In 2002, Bank Bali and 4 banks under the administration of the Indonesian Bank Restructuring Agency—PT Bank Universal Tbk (Universal), PT Bank Prima Express (Primex), PT Bank Artamedia (Artamedia) and PT Bank Patriot (Patriot), with the approval from the Extraordinary General Meetings of each bank—agreed to merge.

To fulfill the minimum Capital Adequacy Ratio (CAR) stipulated by Bank Indonesia as a consequence of the legal transfer of all assets and liabilities from the 4 banks to the Bank Bali, IBRA made a temporary capital investment to the Bank Bali totalling IDR 4,600,000. This temporary capital investment was made through private placement without preemptive rights of 111,111,111,111 new class B shares with nominal value of IDR 5 per share or total nominal value of IDR 555,556 and the remaining balance amounting to IDR 4,044,444 as additional paid-in capital.

Bank Indonesia approved the merger of the 4 banks into Bank Bali in September 30 the same year, followed by the Bank Indonesia's approval of Bank Bali's rebranding to PT Bank Permata Tbk in October 18 the same year.[2]

¹ In the financial report, government manages its share in Bank Permata under PT Perusahaan Pengelola Asset (PPA) (Ministry of Finance of the Republic of Indonesia)