Indonesia's Panin Bank stake sale draws Southeast Asia lenders, sources say

Reuters
10 Dec 2024
Indonesia's Panin Bank stake sale draws Southeast Asia lenders, sources say

SINGAPORE/HONG KONG, Dec 10 (Reuters) - Southeast Asia's second and fifth-largest banks Oversea-Chinese Banking Corp OCBC.SI and CIMB CIMB.KL are vying for a controlling stake in Bank Pan Indonesia (Panin Bank) PNBN.JK, three people with knowledge of the matter said.

OCBC and CIMB have submitted non-binding offers for the stake offered by Australian lender ANZ ANZ.AX and Indonesia's Gunawan family, which founded Jakarta-listed Panin Bank in 1971, two of the people said.

Non-binding bids for the stake are due this month, the sources said on condition of anonymity as the deal talks were confidential.

Panin Bank did not respond to requests seeking comment.

OCBC and CIMB declined to comment.

(Reporting by Yantoultra Ngui in Singapore and Kane Wu in Hong Kong; Additional reporting by Scott Murdoch in Sydney, Stefanno Sulaiman in Jakarta and Chayut Setboonsarng in Bangkok; Editing by Sumeet Chatterjee and Himani Sarkar)

((Yantoultra.Ngui@thomsonreuters.com;))

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