December 21, 2018 / 8:08 AM / in 7 months

Indonesian regulator approves merger of BTPN, Sumitomo Mitsui unit

JAKARTA (Reuters) - Indonesia Financial Service Authority (OJK) has approved the merger of PT Bank Tabungan Pensiunan Nasional (BTPN) (BTPN.JK) and PT Bank Sumitomo Mitsui Indonesia, the banks said on Friday.

BTPN and the Indonesian unit of Tokyo-listed Sumitomo Mitsui Financial Group (8316.T) announced plans to merge this year after the Japanese lender’s chief executive said it was keen to increase its ownership in BTPN from 40 percent.

Reporting by Cindy Silviana; Writing by Fransiska Nangoy; Editing by Sai Sachin Ravikumar

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below