Banking News

Indonesia's IBRA to start Danamon sale

Indonesia’s IBRA to start Danamon sale

(Indonesia) - The Indonesian Bank Restructuring Agency (IBRA) says it hopes to start selling 20 percent of its stake in PT Bank Danamon Indonesia on the share market later this week. IBRA's Deputy Chairman I Nyoman Sender told reporters IBRA hopes to start selling the shares after Bank Danamon finishes its reverse stock split Wednesday. IBRA will then sell another 51 percent to a strategic investor.

Nyoman said IBRA expects to receive non-binding bids from prospective investors for the 51 percent stake by the third week of February and hopes to announce the winning bid late March.

The government currently owns 99.36 percent of Bank Danamon, which was created from the merger of several local banks after the 1997-98 Asian financial crisis.

Comment on this article


Your comments will not be published. Required fields are marked *


Please enter the word you see in the image below:


Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.