Mizuho Interested in Acquiring Bank Permata

By Editorial Team 14/08/2019
Summary

Two financial institutions from Japan, Mizuho Financial Group and Sumitomo Mitsui Finansial Group, are reportedly interested in acquiring PT Bank Permata Tbk (BNLI). As quoted by Kontan.co.id, Sumitomo is targeting all ownership of PT Astra International Tbk (ASII) and Standard Chartered Bank, each of which controlled 44.56 percent stake in Bank Permata. Meanwhile, Mizuho will only take shares from Standard Chartered.

Mizuho’s move was made because it wanted the Astra Group to continue to have a business in the banking sector. Moreover, it is said that Bank Permata has also become a bank that manages Mizuho's employee payroll. The steps from Sumitomo and Mizuho are also in line with the easing of bank ownership rules or single presence policy (SPP) from the Financial Services Authority (OJK).

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