PT Bank Sinarmas Tbk. was established on August 18, 1989 based on Deed No. 52 dated August 18, 1989 of Buniarti Tjandra, S.H., Notary in Jakarta, under the name PT Bank Shinta Indonesia and amended by Deed No. 91 dated September 15, 1989 of the same notary.

The Bank obtained the status as a Foreign Exchange Commercial Bank in 1995. In 2005, the Bank's journey entered a new chapter after PT Sinar Mas Multiartha Tbk, a financial services company under the Sinar Mas Group of Companies took over 21% of the shares in PT Bank Shinta Indonesia.

In December 2006, the Bank changed its name to PT Bank Sinarmas. The name change was approved by the Extraordinary General Meeting of Shareholders as stipulated in Deed No. 1 dated November 21, 2006 of Triphosa Lily Ekadewi, S.H., a notary in Jakarta.