Islamic Banks in Amartha's Acquisition Radar

By Editorial Team 29/03/2022
fintech competition
Summary

Peer-to-peer lender Amartha is reportedly in the process of acquiring a 70 percent stake in a local bank in an effort to strengthen its digital banking business. A DealStreetAsia source said that PT Bank Victoria Syariah was a prime candidate for Amartha's acquisition.

It is also reportedly processing pre-IPO funding in debt and equity schemes. To DealStreetAsia, Amartha's management said that the company would remain focused on providing banking and financial services to unbanked consumers.

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