SMBC & Reality Check of BTPN

Sumitomo Mitsui Banking Corporation (SMBC) acquired 24.26% shares of Bank Tabungan Pensiunan Nasional (BTPN) for US$937 million five years ago at enterprise value of US$3.9 billion. Today, BTPN’s market capitalization is Rp18.5 trillion or US$1.38 billion only. Not only its value eroded significantly, financial performance of BTPN also weakened in the past few years.

Read More

M&A Update

The Business Competition Supervisory Commission (KPPU) expects the merger and accquisition (M&A) activities conducted by foreign firms with domestic players to continue this year, mainly in the financial sector along with the growing financial technology (fintech), and the processing industry.

Read More
error: Content is protected !!