Indonesia welcomes foreign banks following MUFG's Danamon deal
Jakarta is looking to boost lending and fund ambitious infrastructure projects
Singapore
BANKS from countries including China are looking to follow the example of Japan's largest lender and buy stakes in Indonesian financial institutions, according to the head of the South-east Asian nation's Financial Services Authority.
After the agreement last month by Mitsubishi UFJ Financial Group (MUFG) to purchase a US$1.2 billion stake in PT Bank Danamon Indonesia, the government in Jakarta wants to see similar investments as it seeks to boost lending and fund ambitious infrastructure projects, according to Wimboh Santoso, who was appointed in June as chairman of the regulator, known locally as OJK.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Philippines eyes US$2 billion in its first global bond this year
UniCredit jumps past 60 billion euro market cap to join elite club
New Thai finance minister downplays row with central bank
China's CICC may cut investment banking headcount by at least 10% this year
Apac finance M&A to stay subdued after Q1 decline as uncertainties linger: S&P Global
MAS ‘following up’ with DBS on cause of May 2 glitch in digital banking services