Aditya Hadi Pratama · · 1 min readSea to help Indonesian gov’t bank enter digibank space
Singapore-based Sea Group is set to join Indonesian state-owned bank BNI in turning a small bank into a digibank, Bisnis reported, citing a statement from an executive of the country’s Financial Services Authority (OJK).
Slamet Edy Purnomo, OJK’s deputy commissioner for banking supervision III, said that Sea Group will contribute “a small portion” to BNI’s acquisition of the bank, without giving exact numbers.
The deal is pending approval from BNI’s shareholders and regulators. The acquisition target is still unconfirmed, but some reports say that it will be Bank Mayora.
Aside from this tie-up, Sea Group had acquired another bank called Bank Kesejahteraan Ekonomi and turned it into SeaBank. Other tech companies have also entered Indonesia’s digital bank space, such as Gojek with Bank Jago, Akulaku with Bank Neo Commerce, Grab’s partner Emtek that just acquired Bank Fama, and WeLab with its acquisition of Bank Jasa Jakarta earlier this month.
See also: Why Indonesia’s tech giants find digital banks irresistible
Editing by Collin Furtado and Lorenzo Kyle Subido
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