The Business Times
business-time-50

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

google-preferred-sourceAdd BT as a preferred source
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

    TRENDING NOW

    Vincent Tan, founder of Berjaya Group, has reduced his holdings in multiple companies within the group.

    Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan

    Altitude Xperience argued that the rooftop space in contention was not considered an unused space.

    Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass

    Some industry watchers wonder if Orchard Road can hold its own next to competing retail destinations, both global and local.

    What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future

    Singapore continues to be an important market for big luxury houses, such as Hermes and Chanel.

    As luxury retail goes big, can Singapore’s Orchard Road keep up? 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More