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BT Explains: Singtel's stake in digibank-hopeful Bank Fama International

Tan Nai Lun

Tan Nai Lun

Published Fri, Jan 21, 2022 · 06:04 AM

    SINGAPORE'S largest telco Singtel Z74 on Friday (Jan 21) said it has acquired a 16.3 per cent stake in Indonesian bank, Bank Fama International, for a cash consideration of 500 billion rupiah (S$48 million).

    The investment is part of Singtel's plans to pursue banking opportunities in Indonesia. The telco also has a digital banking joint venture in Singapore with Nasdaq-listed digital services player Grab.

    What is Bank Fama International?

    BT ExplainsSingtelGrabDigital banking

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