Singaporean lender DBS Group is reportedly the frontrunner within the bid to accumulate a controlling stake in Indonesia’s Panin Financial institution.
DBS is in competitors with Malaysia’s CIMB Group within the second spherical of the bidding course of, reported Reuters, citing the three sources acquainted with the matter.
About 86% of Panin Financial institution is up for grabs.
The sale consists of stakes owned by Australia’s ANZ and the founding Gunawan household.
Their mixed holding is valued at $1.8bn as of the market shut on 25 March 2025.
ANZ has been trying to divest its stake since 2013, and the Gunawan household is open to negotiation on their portion, relying on the value obtained. In line with LSEG information, ANZ owns a 39% stake in Panin Financial institution.
The deadline for binding bids is ready for the tip of April or early Might, although that is topic to market circumstances, in line with one of many sources, who mentioned the bidder views may shift.
Reuters reported that DBS, ANZ, and CIMB have declined to touch upon the matter, whereas Panin Financial institution’s president director Herwidayatmo referred to the financial institution’s controlling shareholders for additional remark.
If DBS secures the deal, it is going to be the primary main acquisition underneath the management of its incoming CEO Tan Su Shan, who takes on the position on 28 March.
Tan has expressed that DBS is open to strategic, value-adding, and earnings accretive bolt-on acquisitions.
DBS has one head workplace and 33 different places of work throughout 15 main cities, using 3,011 workers in Indonesia.
Panin Financial institution gives providers starting from client financing to personal wealth administration.
Beforehand, Singapore’s Oversea-Chinese language Banking Corp and Japan’s Sumitomo Mitsui had proven curiosity within the stake, in line with the sources.
Established in 1971 and listed on the Jakarta inventory change in 1982, Panin Financial institution noticed a internet revenue improve of 8.2% to Rp2.74tn ($165m) final 12 months, boosted by larger curiosity revenue and decrease provisions for unhealthy debt.
In January, DBS Financial institution, a totally owned subsidiary of Singapore’s DBS Group Holdings (DBSH), acquired an extra stake in Shenzhen Rural Industrial Financial institution Company (SRCB), elevating its possession from 16.69% to 19.40%.
“DBS frontrunner in race to accumulate stake in Indonesia’s Panin Financial institution” was initially created and printed by Retail Banker Worldwide, a GlobalData owned model.
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