DBS Group in talks to acquire controlling stake in Panin Bank for $1.8 billion.

From Yahoo Finance: 2025-03-26 01:25:00

DBS Group is leading the race to acquire a controlling stake in Indonesia’s Panin Bank, competing with CIMB Group. The stake, worth $1.8 billion, is up for sale, with ANZ and the Gunawan family looking to sell. Binding bids are due by end-April or early May. If successful, this would be DBS’ first deal under incoming CEO Tan Su Shan. Analysts believe the acquisition would make DBS one of Indonesia’s top 10 banks. Panin Bank, founded in 1971, saw its net profit rise to 2.74 trillion rupiah last year, despite its shares falling about 20% this year.



Read more at Yahoo Finance: DBS leading race to buy controlling stake in Indonesia’s Panin Bank, sources say