Nobu and MNC Bank End Merger Plan as Regulator Orders Fresh Capital
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JAKARTA, Investortrust.id — PT Bank Nationalnobu Tbk or NOBU ends its planned merger with PT Bank MNC Internasional Tbk or BABP on Saturday, Nov 22, 2025 in Jakarta as the Financial Services Authority, or OJK, receives a formal notice from both lenders that they have dropped the deal, a move expected to redirect each bank toward its original growth plans.
OJK said both banks had submitted reports confirming the cancellation. Dian Ediana Rae, Chief Executive for Banking Supervision at the regulator, said the institutions decided to terminate the proposal after internal reviews and discussions.
"Our hope is that each bank can focus on its previously planned growth targets so they can provide greater contributions to the national economy," Dian said in a written statement.
As a replacement for the merger commitment, OJK instructed the controlling shareholders of both lenders to continue strengthening capital through new injections or by bringing in strategic investors.
Dian said this directive aimed to enhance scale and competitiveness and to support business expansion under the regulator’s long term blueprint for the banking sector.
"That measure was expected to increase the business scale and competitiveness of each bank so they can support future development in a sound and sustainable manner," she said.
Prior developments showed both banks had unwound shares accumulated during last year’s share swap maneuver that fueled merger speculation.
PT Prima Cakrawala Sentosa increased its stake in NOBU by 747.7 million shares, raising its ownership by 10 percent and lifting its position to 20.87 percent at an average purchase price of Rp 749.08 per share.
The transaction matched the volume PCS sold to PT MNC Land Tbk in May 2024 when the property company became a new investor in NOBU.