Capital Financial Group business entity, Capital Life Syariah, bought a 5.3 percent stake in PT Bank Aladin. Bank Capital-Bank Aladin consolidation may attract strategic investors.
The Indonesia Investment Authority (INA), Indonesia’s sovereign wealth fund, will finance the Angkasa Pura I and Angkasa Pura II airport projects to secure the business prospects during the post-pandemic economic recovery.
A number of digital banks are aggressively collecting third-party funds by offering high-interest rates of 7-8 percent per year.
The financial aggregator startup Finder released a report stating that Indonesia has the second-highest digital bank users. As many as 25 percent of adults in the country have digital bank accounts.
PT Matahari Putra Prima Tbk stated GoTo Group's participation in the Hypermart retail network manager's capital raise action.
Ribbit's investment in Bank Jago and Ajaib may prompt consolidation or strategic cooperation between both of them in the future.
Bank Indonesia (BI) will conduct a trial on BI Fast Payment in October 2021. The latest system will replace the Bank Indonesia National Clearing System (SKNBI).
New potential investors of PT Bank Nationalnobu Tbk (NOBU) will join through a rights issue.
Several peer-to-peer lending fintech withdrew their registration to the Financial Services Authority (OJK) as they could not take on competitors with stronger capital.
The Financial Services Authority has extended the relaxation period for bank credit restructuring from March 2022 to March 2023. However, banks need to build fiscal reserves to anticipate the surge in non-performing loans.