Analisis Parenting Strategy dan Dampak Akuisisi OTO Group terhadap Penciptaan Nilai Bank SMBC Indonesia

Ina Wulandari, Bowo Setiyono, S.E., M.Com., Ph.D.

2026 | Tesis | S2 MANAJEMEN (MM) JAKARTA

Tesis ini menganalisis bagaimana parenting strategy dan akuisisi OTO Group memengaruhi penciptaan nilai bagi Bank SMBC Indonesia sebagai bagian dari strategi multi franchise SMBC Group di Indonesia. Penelitian ini menggunakan pendekatan studi kasus kualitatif dengan triangulasi data berupa wawancara mendalam dengan manajemen bank dan OTO Group, telaah dokumen internal, serta analisis laporan keuangan konsolidasian sebelum dan sesudah akuisisi untuk menilai sinergi yang terbentuk, perubahan struktur pengasuhan korporat, serta dinamika kinerja risiko, tata kelola, profitabilitas, dan permodalan berdasarkan kerangka RGEC dan teori corporate parenting Campbell & Goold.

Hasil penelitian menunjukkan bahwa Bank SMBC Indonesia menerapkan gaya pengasuhan strategic control dengan memperkuat struktur tata kelola terintegrasi (compliance, risk management, internal audit) dan mendorong sinergi bisnis melalui joint financing, integrasi pendanaan, serta pemanfaatan jaringan OTO Group, yang secara agregat menciptakan nilai dalam bentuk diversifikasi pendapatan, peningkatan NIM, penguatan GCG, dan pertumbuhan aset konsolidasian. Di sisi lain, tesis ini mengidentifikasi tekanan nilai berupa lonjakan CKPN dan memburuknya NPL serta ROA akibat penurunan kualitas portofolio OTO Group, sehingga penciptaan nilai bersih sangat bergantung pada kemampuan parent mengelola risiko kredit, menyelaraskan risk appetite, serta menyeimbangkan antara target pertumbuhan dan kualitas aset. Berdasarkan temuan tersebut, penelitian memberikan rekomendasi perbaikan strategi pengasuhan dan membuka ruang penelitian lanjutan terkait ESG, khususnya pengembangan pembiayaan hijau dan kendaraan rendah emisi dalam kerangka sinergi bank dan multifinance.

This thesis analyses how the parenting strategy and the acquisition of OTO Group affect value creation for Bank SMBC Indonesia as part of SMBC Group’s multi?franchise strategy in Indonesia. The research adopts a qualitative case study approach with data triangulation through in?depth interviews with the management of the bank and OTO Group, review of internal documents, and analysis of consolidated financial statements before and after the acquisition to assess the realized synergies, changes in the corporate parenting structure, and the dynamics of risk, governance, profitability, and capital performance based on the RGEC framework and Campbell & Goold’s corporate parenting theory.

The findings show that Bank SMBC Indonesia applies a strategic control parenting style by strengthening integrated governance structures (compliance, risk management, internal audit) and promoting business synergies through joint financing, funding integration, and leveraging OTO Group’s distribution network, which collectively creates value in the form of income diversification, higher NIM, improved GCG, and growth in consolidated assets. On the other hand, the thesis identifies value pressure in the form of a sharp increase in loan loss provisions (CKPN) and the deterioration of NPL and ROA due to the weakening quality of OTO–SOF’s portfolio, implying that net value creation highly depends on the parent’s ability to manage credit risk, align risk appetite, and balance growth targets with asset quality; based on these findings, the study proposes refinements to the parenting strategy and opens avenues for further research on ESG, particularly the development of green financing and low?emission vehicle financing within the bank–multifinance synergy framework.

Kata Kunci : parenting strategy, parenting style, sinergi, integrasi pasca akuisisi, RGEC/parenting strategy, parenting style, synergy, post acquisition integration, RGEC