The beginning of 2025 marks a significant period for Indonesia's state-owned banks, with the Annual General Meeting of Shareholders (RUPST) approaching. This annual event is highly anticipated, especially as it often brings changes in leadership at state banks, a trend seen frequently during new government periods.

One of the key banks undergoing leadership transitions is PT Bank Negara Indonesia Tbk (BNI). Several directors, including the President Director Royke Tumilaar, will see their terms expire in 2025. Royke, who has held the position since September 2020, confirmed his term will end at the upcoming RUPST. While Royke did not comment on whether he will be reappointed, his term's expiration is part of the usual cycle of executive changes.

Another major bank facing potential leadership shifts is PT Bank Mandiri Tbk. This institution will see the terms of four directors, including its Director of Finance, Sigit Prastowo, and Director of Operations, Tono E.B. Supari, come to an end. Despite the expiration of these terms, rumors suggest that significant changes may still occur, particularly regarding who will hold the top executive roles.

While PT Bank Rakyat Indonesia Tbk (BRI) has fewer expiring directorships, changes may also be in store. Sources reveal that BRI's current President Director, Sunarso, could potentially be moved to lead Bank Mandiri, especially if the current Bank Mandiri director, Darmawan Junaidi, does not have his term renewed.

Furthermore, Bank Mandiri’s Deputy President Director, Alexandra Askandar, is also a possible contender to replace Sunarso at BRI, a role she would compete for with the Director of PT Bank Syariah Indonesia Tbk (BSI), Hery Gunardi.

These leadership shifts come at a critical time, especially with the new administration shaping key decisions regarding state-owned companies. The government’s influence on the selection of executives, particularly through the Ministry of State-Owned Enterprises (BUMN), could guide which figures step into pivotal roles.

Despite the uncertainty surrounding appointments, the potential changes are likely to align with the new government’s agenda. Economists and senior bankers like Ryan Kiryanto emphasize that leadership transitions are typical, especially when terms end.

They also stress that any new appointments must pass thorough evaluations from regulatory bodies like the OJK (Financial Services Authority) to ensure candidates meet the necessary standards of competence and integrity.

Additionally, the establishment of the Badan Pengelola Investasi (BPI) Danantara may also play a crucial role in determining the leadership of these state banks. However, as of now, the BPI Danantara does not have the legal framework to make executive decisions. Once the regulations are finalized, BPI Danantara is expected to have a say in who will lead these state-owned financial institutions.

As the RUPST draws near, the banking sector will closely watch how these leadership changes unfold. While leadership transitions are part of the routine, the involvement of government agencies and new regulatory bodies adds an element of anticipation for how the future will shape the leadership at Indonesia's state-owned banks.

SOURCE: KONTAN | PHOTO: