Indonesian banks strong enough without merger
They can build on geographical reach to retain an advantage, says Bank Negara head
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Jakarta
INDONESIA'S biggest banks, among the world's most profitable, are strong enough to face down overseas rivals without the need to merge to cope with South-east Asia's economic integration, said the head of state lender PT Bank Negara Indonesia (BNI).
Indonesian banks can build on their geographical reach within the sprawling archipelago to retain an advantage over new entrants in South-east Asia's largest economy, president director Gatot Suwondo said in an interview in Jakarta on Wednesday. Employees at his bank would resist any merger with PT Bank Mandiri, he said.
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