JAKARTA (Yosefardi) – The Bank of Tokyo-Mitsubishi UFJ Ltd mulls to acquire bank in Indonesia, to boost its banking business in the country. The bank has expressed this plan to the Financial Service Authority (OJK).
OJK welcomes Japan banks’ interest to strengthen and expand their banking business in Indonesia as banks from Japan operating in Indonesia will boost their loans to productive sectors that are focus of developments by the government.
Currently 10 foreign banks operate in Indonesia; (1) Bank of America, N.A, (2) The Royal Bank of Scotland N.V, (3) Bangkok Bank Pcl, (4) Citibank N.A, (5) The Hongkong & Shanghai B.C (HCBC), Ltd, (6) Bank of China Limited, (7) Deutche Bank Ag, (8) JP. Morgan Chase Bank, N.A, (9) The Bank of Tokyo-Mitsubishi UFJ Ltd, and (10) Standard Chartered Bank.