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Bank Permata draws interest from both DBS and OCBC

Goola Warden
Goola Warden10/11/2019 07:00 AM GMT+08  • 5 min read
Bank Permata draws interest from both DBS and OCBC
SINGAPORE (Oct 14): Bank Permata — 44.6% held by Standard Chartered and 44.6% held by Astra International — has no shortage of suitors. DealStreetAsia reported that DBS Group Holdings is the latest bank to be interested in Bank Permata, following earl
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SINGAPORE (Oct 14): Bank Permata — 44.6% held by Standard Chartered and 44.6% held by Astra International — has no shortage of suitors. DealStreetAsia reported that DBS Group Holdings is the latest bank to be interested in Bank Permata, following earlier reports that Oversea-Chinese Banking Corp and Sumitomo Mitsui Financial Group are keen.

Do OCBC and DBS need Bank Permata to expand their Indonesian franchises?

The local banks are under pressure to keep their common equity tier 1 (CET 1) ratios at around 13%. A dip below this level could pressure ratings. DBS, OCBC and United Overseas Bank have the equivalent of an AA rating by the three rating agencies, and this enables them to access cheaper funding.

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