Indonesia’s state enterprises minister has reportedly revealed the plans of the government to merge some state Islamic banks in 2015 to gain a wider reach.
Minister Rini Soemarno said to Reuters: "If we have a big bank, it can have bigger funding capabilities. Our mission is to form financial inclusion, meaning that we want all areas in Indonesia to be exposed to our banking system."
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Previously, several lenders in the country, including Bank Mandiri, PT Bank Rakyat Indonesia and PT Bank Negara Indonesia, have been reported to be considering merging their Islamic banking businesses.
However, Soemarno has not disclosed the names of the banks that are likely to be merged.
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