The team s meticulous planning and careful execution resulted in the % success rate an outstanding achievement considering the accelerated time line. I am delighted that this was achieved on, four months ahead of schedule, where Bank Niaga and LippoBank were successfully integrated and began operating as one bank. The next milestone was the challenge of executing Southeast Asia s largest big bang business and IT integration exercise, entailing the reconciliation of more than 1.4 million customers or approximately 1.7 million accounts and training more than 8,000 staff within 10 months. Legal Day 1 was achieved on 1 November 2008 as planned and work then focused on the more complex integration process. The teams went to work together immediately executing Indonesia s first major banking merger. A methodical merger plan was formulated and its implementation was overseen by a strong governance framework comprising representatives from all parties. Initially conceived to comply with Bank Indonesia s Single Presence Policy, the merger s strong commercial and business rational soon became the overriding objective. CIMB Niaga Merger Closing Report 1ĥ PREFACE A Merger for Growth The merger of Bank Niaga and LippoBank is a significant milestone for CIMB Group as it was a major step in realising our regionalisation agenda. These are the core values of CIMB Niaga and they are its obligations for the dynamic and promising road ahead. Through its commitment to Integrity, perseverance to always place Customers first and passion for Excellence, CIMB Niaga will continue to leverage its strengths to fully realize all of the synergies which the merger has to offer. CIMB Niaga s merger for growth is a critical part of its continuing aim to achieve the Bank s vision: To be the most trusted Indonesian Bank that is part of Southeast Asia s leading Universal Bank by understanding our customers needs, providing the right comprehensive financial solutions and building lifetime relationships.
PROGRAM CASH PLUS CIMB NIAGA FULL
With the full support of CIMB Group CIMB Niaga s majority shareholder CIMB Niaga will continue to develop innovative products and services for customers ease of banking transactions. As a result of the merger, CIMB Niaga proudly serves its customers at over 650 branch offices and near 1,300 ATMs. The merger makes CIMB Niaga the 5 th largest bank by branch and ATM network. CIMB Niaga now offers its customers the most comprehensive portfolio of universal banking services in Indonesia combining its strengths in retail, SME and corporate banking, as well as payment services. Through the hard work of management and employees, the steadfast support of shareholders and the diligent cooperation of Indonesian regulating bodies, CIMB Niaga has successfully integrated all of its Banking Systems and Operations.
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2 CONTENTS CIMB Niaga One Bank, One Vision 1 Preface 3 A Merger for Growth 3 Merger Success Story 5 The Power of Teamwork 5 Overview 7 Branch Network 12 Vision & Values 13 Management 14 Merger Architecture 16 SPD1 18 Training Sessions 30 IT Command Center 32 SPD1 Events 34 Merger Synergy 36 Branding 44 Internal Communications 53 Strategy 54 Financial Review 56 CIMB Niaga Fact Sheet 58 Report by Various Functions 59ģ One Bank, One Vision The merger of LippoBank into CIMB Niaga represents the single greatest leap forward to occur in Southeast Asia s banking sector in recent times.