PT Bank Amar Indonesia (Amar Bank), a digital bank serving retail and MSME segments, has announced that SBI Holdings, a Japanese financial services group, has acquired a stake in the bank.

Following the transaction, SBI Holdings holds more than 5% of Amar Bank’s shares, making it the third-largest institutional investor after Tolaram and PT Jagat Raya Imajinasi.

President Director of Amar Bank, Vishal Tulsian, said:

“We aim to collaborate with their portfolio of companies and leverage their strong financial services ecosystem to share expertise, build synergies, and ultimately deliver even greater value to our retail and MSME customers across Indonesia.”

Navin Nahata, MD of Fintech & Infrastructure at Tolaram, added:

“As the controlling shareholder of Amar Bank, we believe that SBI Holdings’ entry as a shareholder continues to validate Amar Bank’s strategy and mission to revolutionise banking services for Indonesia’s retail and MSME customers.”

Amar Bank, supported by its global and local partners, remains committed to advancing financial inclusion and supporting Indonesia’s retail and MSME sectors.

Featured image credit: Amar Bank

This article first appeared on Fintech News Indonesia