The Indonesian government is planning to set up an investment holding company that will manage its state-owned banks by 2018 to boost equity and operational efficiency.
The new firm will own shares in the country’s largest banks, such as Bank Rakyat Indonesia, Bank Mandiri, Bank Negara Indonesia, and Bank Tabungan Negara.
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Deputy minister Gatot Trihargo said that the new holding firm will be selected from one of the investment companies under the ministry such as PT Danareksa (Persero), PT Bahana Pembinaan Usaha Indonesia (BPUI) and PT Perusahaan Pengelola Aset.
Additionally, the Indonesian government has also scrapped its plans to merge all state shariah banks, and instead decided to pick investors from the Middle East to partner with the banks.
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By GlobalData
