World's Strongest Bank

You are in Indonesia

Brief History

Brief History

Bank OCBC NISP (previously known as Bank NISP) or further mentioned as “Bank” is the fourth oldest bank in Indonesia, established on April 4, 1941 in Bandung under the name of NV Nederlandsch Indische Spaar En Deposito Bank.

The existence of Bank OCBC NISP in Indonesia’s banking industry for more than 78 years is associated with the role of Karmaka Surjaudaja and Lelarati Lukman.

Karmaka Surjaudaja commenced to manage Bank as Director of Operational in 1963. Despite the Indonesia’s tempestuous economic condition at that time, the Bank has managed to grow and was able to overcome several crisis such as ‘sanering’ in 1965.

This success story has led the appointment of Karmaka Surjaudaja as the President Director from 1971 to 1997 and the President Commissioner in 1997 to 2008.

The success of Karmaka Surjaudaja was inspired by his wife, Lelarati Lukman, who has faithfully supported in managing the Bank. She served as a Commissioner from 1982 to 2011.

For more than 40 years of their remarkable dedication and sacrifice, Karmaka Surjaudaja and Lelarati Lukman were awarded the title of Chairman Emeritus and Commissioner Emeritus as well as Senior Advisor of Bank OCBC NISP in 2008. Since 2015, they were commended as Founding Chairman and Founding Chairwoman.

Although they are no longer holding the structural positions, but the foundation, values and culture which they had implemented has remained in the hearts of the entire family of the Bank.

Since its establishment, the Bank has been upholding prudence principle and focusing on serving the Small and Medium Enterprises (SME). In 1967, the Bank raised their status of operation from saving bank into commercial bank.

The raising status was supported by the success of the company to keep growing amid the unprecedented economic and political conditions at that time. In line with that achievement, the Bank has raised its status to a foreign exchange bank in 1990.

In order to anticipate the market’s wider transparency and competition, as well as to strengthen the capital structure, the Bank listed its shares on Indonesian Stock Exchange (formerly Jakarta Stock Exchange) in 1994. The action rendered the Bank as a public company.

The Bank’s Articles of Association were also amended several times, of which the latest was Deed No. 33 Dated April 9, 2015, made before Fathiah Helmi, SH, a Notary in Jakarta. The deed was recorded by the Directorate General of General Law Administration – Ministry of Law and Human Rights of the Republic of Indonesia No. AHU-AH.01.03-0929451 dated May 5, 2015 which has been registered in the Company Register No. AHU-3500716.AH.01.11. of 2015 dated May 5, 2015.

In the late 1990s, Indonesia was hit by severe economic crisis, especially the banking industry. Nevertheless, the Bank successfully overcame the most critical condition called 'the worst banking meltdown’ by the World Bank. Aside from its ability to survive with no support from the government recapitalization program, the Bank also became one of the pioneer banks which continuously able to run its intermediary function to provide loans during the crisis.

With the Bank’s quality and potential, Regent Pacific Private Equity (RPPE), a London based investment company, supported the Bank’s development by increasing its equity to almost twice through the issuance of Zero-Coupon Mandatory Exchangeable Notes to the founding shareholders.

The additional capital initiative enabled the Bank to record high growth without forfeiting the Bank’s positive quality and reputation. The Bank’s well-known reputation in the market and its promising growth had attracted attention from various international institutions, such as International Finance Corporation (IFC), part of the World Bank Group, which provided a long-term loan to the Bank in 1999 and became the Bank’s shareholder during 2001 – 2010.

In addition, since early 1990s, The Netherlands Development Finance Company (FMO) provided long-term loans to be distributed to Small and Medium Enterprises (SME) segment.

In 1997, OCBC Bank – Singapore selected Bank NISP to become a local partner in the establishment of Bank OCBC NISP (later renamed
as OCBC Indonesia), subsequently became a shareholder in 2004. OCBC Bank – Singapore raised its shares through acquisitions and tender offer to become majority shareholder since 2005.

OCBC Bank - Singapore currently owns 85.1% stakes in the Bank. Supported by OCBC Bank - Singapore, the Bank successfully strengthened its infrastructure, including human capital, information technology, risk management, branch office network and internal audit.

In 2005, Bank OCBC NISP’s Head Office was relocated to Jakarta which aimed at facilitating direct access to business center in Indonesia. In 2008, as part of its long-term strategies and to increase the brand as well as the support of the controlling shareholder, Bank NISP adopted a new name of “Bank OCBC NISP”, followed by cultural reinforcement and basic policy implementation within the organization.

Furthermore, in line with market demand, the Bank has strengthened its products and services diversity by establishing Sharia Business Unit since October 12, 2009.

In 2011, the Bank entered a key milestone after OCBC Bank Singapore consolidated their business strategy in Indonesia by merging its subsidiaries, Bank OCBC Indonesia into Bank OCBC NISP.

The merger has demonstrated a full commitment from OCBC Bank – Singapore as the majority shareholder, to focus on supporting Bank OCBC NISP. In order to strengthen the Bank’s cultural foundation, in 2012, the Bank adapted its corporate culture with current circumstances and future possibilities. The new corporate culture named “ONe PIC”, has served as a guideline for all employees’ daily behaviour and work. ONe PIC is the abbreviation for Bank OCBC NISP One, Professionalism, Integrity and Customer Focus.

This culture is consistently applied to all levels within the Bank’s organization, consisting of 6,477 employees. ONe PIC has also become a motivation for the employees to serve customers at 336 offices scattered in 61 cities throughout Indonesia.


Since 2005, OCBC Overseas Investment Pte. Ltd. as a subsidiary of Oversea-Chinese Banking Corporation Limited (OCBC Bank) has become the majority shareholders, with ownership per end of 2017 at 85.1%. Since then, OCBC Bank as the controlling shareholder has constantly provides strong support to Bank OCBC NISP.

OCBC Bank is the longest established Singapore bank, formed in 1932 through the merger of three local banks, the oldest of which was founded in 1912. It is the second largest financial services group in Singapore by assets, with total assets of S$455 billion as of December 31, 2017. OCBC Bank is listed on the SGX-ST, and is one of the largest listed companies in Singapore by market capitalization. Its market capitalization was close to S$52 billion as of December 31,2017, based on the closing price of its ordinary shares. OCBC Bank
is one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognized for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.

OCBC Bank and its subsidiaries offer a broad array of commercial banking, financial and wealth management services specialist, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services. OCBC Bank employs more than 29,000 staff globally, has banking operations in 18 countries and regions including Singapore, Malaysia, Indonesia, China, Hong Kong SAR, Macao, Taiwan, Thailand, South Korea, Japan, Australia, the United Kingdom, and the United States. OCBC Bank’s key markets are Singapore, Malaysia, Indonesia, and Greater China. As of December 31, 2017, OCBC Bank had a global network of over 600 branches and representative offices, including more than 50 branches in Singapore, over 40 branches in Malaysia, 338 branches and offices in Indonesia, and more than 100 branches and offices in Hong Kong, China and Macao under OCBC Wing Hang.

OCBC Bank’s other financial services, such as insurance, private banking, asset management and stockbroking, are conducted mainly through its subsidiaries. Its 87.90%-owned insurance subsidiary, Great Eastern Holdings Limited, which is listed on the SGX-ST, is the oldest and most established life insurance group in Singapore and Malaysia. Great Eastern Holdings’ asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia. Private banking services are provided by wholly-owned subsidiary Bank of Singapore had assets under management of US$99 billion as of December 31, 2017.

For more information, please visit