Indonesia welcomes foreign banks following MUFG's Danamon deal
Jakarta is looking to boost lending and fund ambitious infrastructure projects
Add BT as a preferred sourceSingapore
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.
TRENDING NOW
JustCo takes over master tenancy at OG Orchard Point building with push into co-living market
Targeted credit relief: Vietnam steers funding to Vingroup, Sun Group, Masterise megaprojects
E-commerce job cuts signal S-E Asia’s shift from scaling to deeper user engagement
How China outgrew Singapore’s F&B brands
