OCBC, CIMB seek stake in Indonesia’s Panin Bank
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 10 2024
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Should l Buy ?
Source: Yahoo Finance
OCBC and CIMB's Acquisition Efforts: Singapore's OCBC and Malaysia's CIMB are competing to acquire a controlling stake in Indonesia's PT Bank Pan Indonesia, with non-binding offers submitted for stakes held by ANZ and the Gunawan family, valued at approximately $2.4 billion.
Interest from Other Banks: Maybank and Japanese banks MUFG and Sumitomo Mitsui Banking Corp are also considering bids for Panin Bank, attracted by Indonesia's economic growth and the bank's diverse portfolio.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
