Bank OCBC NISP
Bank OCBC NISP (formerly Bank NISP) () is an Indonesian publicly listed banking and financial services company headquartered in South Jakarta, Indonesia. The bank is owned by Singaporean banking and financial group, OCBC Bank, which holds 85.1% of shares. OCBC NISP is Indonesia's 8th largest bank by assets and has 337 branches and offices and 780 ATMs located across the country. History. Established in 1941, the bank was founded as "NV Nederlandsch Indische Spaar en Deposito Bank" ("Netherlands Indies Savings and Deposito Bank") in Bandung, then Dutch East Indies. The bank was one of the largest savings  bank at the time of establishment and in 1967, it became a commercial bank providing corporate banking services as well. In 1981, the bank was then renamed to "PT Bank Nilai Inti Sari Penyimpan (Bank NISP)". It was among the first banks in Indonesia selected to channel government subsidized credits, to participate in government saving programs, and to issue bank guarantees for government projects. In 1972, Bank NISP entered into a joint agreement with Daiwa Perdania Bank, a joint venture between Daiwa Bank of Japan and Indonesian partners. Bank NISP later became a shareholder of Daiwa Perdania Bank. The bank  subsequently became a licensed foreign exchange bank in 1990, and a publicly listed bank on the Indonesian Stock Exchange in 1994. 1997 to 2008: Joint venture and acquisition by OCBC. In 1997, Bank NISP entered a joint venture with OCBC Indonesia, with the opening of PT Bank OCBC-NISP, with an initial paid-up capital of 150 billion rupiah. Since then, OCBC has been buying shares from shareholders within the bank and also from President Director and CEO, Parwati Surjaudaja, who sold 22.5% of her shares to OCBC in 2004. By 2008, OCBC Bank had become the main shareholder in  Bank NISP and the bank was renamed Bank OCBC NISP. 2010 to present: Merger with OCBC Indonesia. In 2011, OCBC NISP merged with OCBC Indonesia, where OCBC Indonesia was dissolved without going through liquidation. The combined entity would operate under the name of Bank OCBC NISP, and a total of Rp 47.6 trillion in combined assets after the merger.