Investree Group now owns 18.4% stake in Amar Bank

JAKARTA - Investree Group officially owns 18.4% shares of PT Bank Amar Indonesia Tbk (“Amar Bank”). In May, Investree Group and Tolaram Group Inc. (“Tolaram”), the controlling shareholder of Amar Bank, announced the signing of a transaction agreement for the acquisition of a significant minority stake by the Investree Group in Amar Bank. Subsequently in June, the Investree Group acquired 10.9% of all issued and fully paid shares of Amar Bank. Now, the Investree Group has completed the transaction and increased its share ownership to 18.4%, thereby confirming the minority share ownership of the leading fintech lending platform in Southeast Asia for Micro, Small and Medium Enterprises (MSMEs) to Amar Bank.

Co-Founder & CEO of Investree Indonesia and CEO of Investree Regional, Adrian Gunadi, said, “Investree welcomes this latest step with great enthusiasm. This initiative is part of creating a cohesive cross-collaboration between fintech and banking as well as jointly innovating products, providing digital financing services and more integrated business solutions, as well as expanding the reach to prospective debtors or MSME actors in cities that are part of Amar Bank network. In addition, this acquisition will further strengthen Investree's solid ecosystem, allowing for increased strategic potential to empower MSMEs across the country. After this, we hope that we can start implementing the key initiatives prepared by the Investree Group and Amar Bank.”

Commenting on the acquisition, Vishal Tulsian, President Director of Amar Bank, said, “The strategic partnership with Investree will strengthen Amar Bank's position as a digital bank that leverages technology to have a positive impact in the country. Investree is the largest fintech lending player in Indonesia with a strong focus on the SME segment. Tunaiku, Amar Bank's product is the most powerful digital lending platform for individuals and micro-businesses based on Big Data, and Senyumku is the most advanced AI-based digital banking platform. Amar's strong balance sheet + Tunaiku digital loan + Senyumku digital banking + Investree SME Loan + Investree Ecosystem = Ready to become the strongest Indonesian Digital Bank that focuses on MSMEs."

Utilizing a solid ecosystem, Investree and Amar Bank will build a digital bank for MSME players who are the backbone of the country's economy, as well as cross-collaborating by maximizing existing products from both the Investree and Amar Bank sides to optimize support for MSMEs. (LM)

Source: IDN Financials