Maybank Indonesia unifies five entities under single conglomerate

The move unifies governance, oversight, and operating framework of the companies.

PT Bank Maybank Indonesia Tbk (Maybank Indonesia) is now an “operation financial conglomeration holding company” (Perusahaan Induk Konglomerasi Keuangan/PIKK) after acquiring majority interest in three Indonesia-based firms.

Shareholders of Maybank Indonesia approved its majority interest acquisition in PT Maybank Asset Management, PT Maybank Sekuritas Indonesia, and PT Asuransi Etiqa International Indonesia on 29 May 2026.

“By bringing together our banking, wealth management, securities and insurance businesses, we will be better positioned to deliver seamless and customer-centric financial solutions that meet the evolving needs of individuals and businesses across Indonesia,” said Dato’ Sri Khairussaleh Ramli, president and group CEO of Maybank.

Maybank Indonesia’s financial conglomerate will comprise of members PT Maybank Sekuritas Indonesia, PT Maybank Asset Management, PT Asuransi Etiqa Internasional Indonesia, PT Maybank Indonesia Finance and PT Wahana Ottomitra Multiartha Tbk (WOM Finance).

The move unifies governance, oversight, and operating framework of Maybank companies in Indonesia, the bank said in a statement.

Separately, Maybank recently announced that it is deploying AI-powered advisory tools to its relationship managers. It also launched a pilot for ringgit tokenised money this year.

The Malaysian bank's net profit fell 4.2% year-on-year to $625.13m (MYR2.48b) in Q1 FY2026, hit by a lower trading income.