Maybank-BII Ten Years Later

Malaysia’s Maybank surprised many in March 2008 with its decision to acquire then Bank International Indonesia (BNII) at 4.7x book value. Back then, BNII was valued at US$2.7 billion. Ten years later the bank is valued US$1.38 billion. Not only half its initial value, it is now worth less than book value (Rp20.8 trillion of equity by Dec 31, 2017). To subscribe please click here