Indonesia caps foreign ownership of local banks at 40%
Foreign ownership of Indonesian banks will be capped at 40%, although exceptions will be made for listed banks with strong financial health and high levels of tier-one capital. On this basis, it appears that DBS Group’s $7.2 billion bid for Bank Danamon – it wants to buy a 67.4% stake currently held by Temasek Holdings – could still go through.
The current permitted level of foreign ownership - 99% - was introduced after the Asian financial crisis in 1998, but has become a political hot potato, given that the thresholds in neighboring countries...
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