PT Bank OCBC NISP Tbk (formerly Bank NISP), which trades under the name OCBC Indonesia, is an Indonesian-listed banking and financial services company headquartered in South Jakarta, Indonesia. The bank is owned by Singapore-based banking and financial conglomerate OCBC Bank, which holds an 85.1% stake. OCBC is the eighth largest bank in Indonesia by assets, with 337 branches and offices and 780 ATMs across the country.

History

The bank was established in 1941 as NV Nederlandsch Indische Spaar en Deposito Bank ("Dutch Indies Savings and Deposits Bank"), located in Bandung and then the Dutch East Indies. The bank was one of the largest savings banks at its inception and became a commercial bank offering corporate banking services in 1967. In 1981, the bank was subsequently renamed PT Bank Nilai Inti Sari Penyimpan (NISP Bank). It was one of the first banks in Indonesia to be selected to provide government subsidized credit, participate in government savings schemes, and provide bank guarantees for government projects. In 1972, NISP Bank entered into a joint venture agreement with Daiwa Perdania Bank, a joint venture between Daiwa Bank of Japan and its Indonesian partner. Bank NISP later became a shareholder in Daiwa Perdania Bank. The bank then became a licensed foreign exchange bank in 1990 and a publicly listed bank on the Indonesian Stock Exchange in 1994.

1997 to 2008: OCBC formed a joint venture and acquired

In 1997, NISP Bank formed a joint venture with OCBC Bank Indonesia and opened PT Bank OCBC-NISP with an initial paid-up capital of 150 billion Indonesian rupiah. Since then, OCBC has been buying shares from in-house shareholders as well as president and chief executive Parwati Surjaudaja, who sold a 22.5 per cent stake to OCBC in 2004. By 2008, OCBC had become a major shareholder in Bank NISP, which was renamed Bank OCBC NISP.

2010-Present: Merger with OCBC Indonesia

OCBC NISP logo used until November 14, 2023

In 2011, OCBC NISP merged with OCBC Indonesia and OCBC Indonesia was dissolved without liquidation. The merged entity will operate under the name of OCBC Bank NISP and the combined total assets will be 47.60 trillion guilders.

OCBC NISP launched "OCBC" as a new brand name and logo on November 14, 2023, marking the beginning of an exciting new banking journey.

PT Bank OCBC NISP Tbk ("OCBC Indonesia") entered into a sale and purchase agreement ("SPA") with Commonwealth Bank of Australia ("CBA") on November 16, 2023 to acquire 99.0% of shares in PT Bank Commonwealth ("PTBC") from CBA (the "Proposed Acquisition"). OCBC Indonesia also intends to acquire the remaining 1.00% shares in PTBC from other shareholders. The proposed acquisition is subject to regulatory approval by the Financial Services Authority of Indonesia (Otoritas Jasa Keuangan), the Annual General Meeting (AGMS) and certain other conditions. Upon completion of the acquisition, PTBC will be incorporated into OCBC Indonesia.