DBS Group, Asia's largest bank by assets and
employs 18,000 people, acquisition plan over PT Bank Danamon Indonesia Tbk, Indonesia’s sixth-largest, began to make the government concerned particularly the potential narrowing domination of the national bank in issuing future policies and operational management.
According to Deputy Minister of Finance Mahendra Siregar, the acquisition might affect macro and micro economic stability and Bank Danamon credit growth projection.
Nevertheless, Ministry of Finance will support Bank Indonesia and Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) decision over DBS plan to acquire Danamon shares from Temasek Holding.
According to Deputy Minister of Finance Mahendra Siregar, the acquisition might affect macro and micro economic stability and Bank Danamon credit growth projection.
Nevertheless, Ministry of Finance will support Bank Indonesia and Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) decision over DBS plan to acquire Danamon shares from Temasek Holding.
DBS was announced on 2 April it has agreed to pay
$7.24 billion to take control of its Indonesian counterpart, According to the terms of the deal, DBS will pay around $4.9 billion of
the total sum in shares and the remaining amount in cash.
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