REPUBLIKA.CO.ID, JAKARTA -- Indonesian Deposit Insurance Corporation (LPS) officially transferred its 99.9 share in PT Bank Mutiara, Tbk to Japanese investor, J-Trust. The Japanese finance company purchased the ex-Bank Century for 4.41 trillion IDR, making it the biggest bidder in Mutiara's divestment process.

"We hope J-Trust, as a new owner of Bank Mutiara, can bring the bank to a better future. The transfer of shares marks the end of our management in Bank Mutiara," Executive Director of LPS Kartika Wirjoatmodjo said on Thursday, November 20.

The process of transfer is based on a letter from Financial Service Authority (OJK). It has been paid in November 20 with Price to Book Value (PBV) around 3.5 times.

Newly appointed Commissioner of Bank Mutiara Nobiru Adachi said the company would expand its business and seek opportunity on international transaction. He also hopes that Bank Mutiara will still be listed in Indonesia Stock Exchange (IDX).

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