30 Sep 2021

PT Bank Rakyat Indonesia (Persero) Tbk’s establishment of holding company for ultra-micro SOE

Partners Ahmad Fikri Assegaf, Indira Yustikania, Putu Suryastuti, and Mita Kartohadiprodjo from Assegaf Hamzah & Partners assisted PT Bank Rakyat Indonesia (Persero) Tbk., one of the largest banks in Indonesia, on the establishment of the holding company for ultra-micro SOE together with PT Pegadaian (Persero) and PT Permodalan Nasional Madani (Persero). By establishing this ultra-micro holding group, the government hopes to further facilitate convenience in lending by lowering the cost of borrowing funds, as well as widening financial inclusion and accessibility, especially the ultra-micro segment (those who require financing below IDR 10 million).