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