Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

OJK open to talks with Japanese lenders

  • Winny Tang

    The Jakarta Post

Jakarta   /   Thu, January 4 2018   /  01:30 am

The Financial Services Authority (OJK) has said it is open to discussing plans by major Japanese lenders Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Financial Group (SMFG) to acquire stakes in Indonesian banks.

The OJK, however, has yet to approve the plans as the Japanese banks have not officially informed the financial regulator about them.

“They were still just plans. If they really wanted to acquire shares of more than 40 percent [in local banks], come to us and explain the reason why,” OJK chairman Wimboh Santoso told reporters during an event on Tuesday.

Japan’s largest lender MUFG acquired last Friday 19.9 percent shares of publicly listed lender Bank Danamon in a deal worth Rp 15.87 trillion (US$1.17 billion). The purchase was the initial step.

In its second step, MUFG intends to acquire an additional 20.1 percent to boost its stak...