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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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.
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.
