Fintech Firms Intensify Bank Acquisitions

By Editorial Team 19/04/2022
fintech competition
Summary

Xendit is reportedly eyeing a majority stake in Bank Sahabat Sampoerna. The financial technology (fintech) unicorn previously confirmed that it planned to purchase multi-finance company PT Globalindo Multi Finance shares. However, DailySocial broke the news about Xendit's acquisition plan, which would be carried out in stages until it finally controls 51 percent of the bank shares.

Katadata.co.id tried to confirm the report to Xendit, but its management refused to say anything. Last week, Xendit confirmed that it would purchase some shares of the multi-finance company PT Globalindo Multi Finance, related to Globalindo Multi Finance's plan to merge with PT Emas Persada Finance.

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