Fintech Firms Scramble to Acquire Banks to Boost Growth

Summary

GDP Venture explained why several financial technologies or fintech firms often acquire banks or vice versa.

"It is because of the offered [financial] inclusion," GDP Venture's investment partner Anthony Liem said at the Power Lunch event on Wednesday.

Indonesia's financial market is very large; therefore, the players must adjust and team up. In April 2022, for example, Investree and Ajaib bought shares of PT Bank Amar Tbk (AMAR) and PT Bank Bumi Arta Tbk (BNBA).

Xendit and Komunal also made strategic investments in PT Bank Sahabat Sampoerna and BPR in Kediri, while FinAccel acquired PT Bank Bisnis Internasional (BBSI) in March 2022.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.