INDONESIA - BANKING - QNB Kesawan Turns to Loss in First Half

www,theindonesiatoday.com - JAKARTA (Indonesia Today) - PT Bank QNB Kesawan Tbk booked net loss of Rp11.67 billion in the first half of 2012, flipped from net profit of Rp10.7 billion in the corresponding period of 2011.
The bank actually posted higher net interest income of Rp87.4 billion, representing an increase of 20% from the first half of 2011. Bank QNB Kesawan, however, suffered from substantially higher personnel and administrative expenses.  (source)

INDONESIA - BANKING - QNB Bank Kesawan expand the market

www.kontan.co.id - JAKARTA. Arrival of new investors pushed QNB Bank Kesawan more aggressive expansion. Management set up an investment fund of Rp 150 billion to strengthen its business lines, and network marketing this year.
Divisions, a total of Rp 80 billion to improve the quality of core banking system began in June. The rest, to build about 23 new branches.The new office, among others, in Jakarta, Lampung, Palembang, Samarinda, Central Java, West Java and East Java. "Each new office spent approximately USD 3 billion," said Madi D. Blue, Director of QNB Kesawan yesterday.
Currently QNB Kesawan already operates services in 38 branches. Next year, management continued to expand the marketing network to have 200 branches by 2016. Previously, the new management moved the headquarters from Jalan Gajah Mada, Jakarta Pusat, the SCBD area, South Jakarta.  (source)

AUSTRALIA - BANKING - Middle East banks (Albaraka - QNB) turn to Australia

www.theage.com.au - MIDDLE Eastern and Asian banks are eyeing an entry into the Australian market, with several believed to have started in recent months the long process of securing a banking licence.
The move should fill a financing gap caused by some stressed European lenders scaling back their exposure to Australia.
Towards the end of last year, European groups pulled $16.7 billion from the local economy as they began feeling the funding squeeze in their home markets.

The shortfall this caused has generally been met by Asian banks.
Banking industry sources have named several overseas players as taking initial steps to secure an Australian banking licence. They include commercial Taiwanese lender Cathay United Bank and Middle Eastern commercial major Qatar National Bank.
Saudi Arabian Islamic banking specialist Al Baraka has also been named as eyeing a foothold, suggesting the federal government's efforts in promoting Australia's involvement in Islamic financing are gaining traction. Given the time and capital involved, not all banks see the licence process through, particularly as their commercial goals can quickly change. (source)

INDONESIA - BANKING - Qatar National Bank, Major Shareholder of Bank Kesawan

JAKARTA, www.KOMPAS.com - Along with Qatar National Bank (QNB) became the main shareholder of Bank Kesawan, then at the end of 2011 the bank changed its name to Bank QNB Kesawan.

In a general meeting of shareholders extraordinary, Friday (27/01/2012), was officially raised QNB Kesawan ZA Ali Ahmed Al-Kuwari as Commissioner. Ali's position will become effective after approval from Bank Indonesia.  (source)

INDONESIA - OPINION - Bright prospect of Islamic banking

Currently, most of the giant international banks offer either an Islamic Commercial Bank (ICB) or an Islamic Business Unit (IBU). The question is, therefore, “How can national Islamic banking be developed?”

First of all, let us look at the infrastructure of Islamic banking during the last six years. A report titled “Islamic Banking Statistics April 2011”, which was issued by Bank Indonesia (BI) on June 15, 2011, found that ICB increased from only three banks with 304 offices in 2005 — when Islamic banking was born — to 11 banks with 1,215 offices by December 2010. (source)

INDONESIA - BANKING - Bank Kesawan H1 Profit Jumps Fourfold (QNB)

Theindonesiatoday.com - PT Bank Kesawan Tbk BKSW, 69.59% controlled by Qatar National Bank Group QNB, posted net profit of Rp11 billion in the first half (H1) of 2011, jumped more than fourfold(433%) from Rp2 billion in the same period of last year.

Interest income increased 22.3% to Rp138 billion while net interest income jumped 48.8% to Rp80 billion. Net interest margin (NIM) rose 12% to 5.5%. (source)

INDONESIA - BANKING - QIB quits Bank Muamalat bid, StanChart left-sources

* StanChart only bidder left in race - sources

* PT Bank, Bank Mandri, OCBC also backed out from deal

By Janeman Latul and Dinesh Nair

JAKARTA/DUBAI, July 4 (Reuters) - Qatar Islamic Bank has pulled out of the bidding for a majority stake in Indonesian Islamic lender PT Bank Muamalat, banking sources said, leaving Standard Chartered Plc as the sole remaining bidder.(source)

BANKING - Race is on (Bank Muamalat)

Race is on It looks like the race to acquire a chunk of Indonesia’s Bank Muamalat is narrowing, with British
bank Standard Chartered apparently in pole position.  

Bank Muamalat was Indonesia’s first Shari’ah compliant bank, starting operations in 1992. It now serves about three million customers in Indonesia and Malaysia and had piqued the interest of Qatar’s largest Islamic bank, Qatar Islamic Bank and local operator Bank Mega, as well as Standard Chartered because of its strategic positioning in what many analysts regard as one of the most significant Islamic banking markets of the future. (source)

BANKING - StanChart considers bid for Indonesia Islamic lender Bank Muamalat

HONG KONG/JAKARTA, June 20 (Reuters) - Standard Chartered Plc is planning to bid for a controlling stake in Indonesia's PT Bank Muamalat alone as StanChart's affiliate has dropped out of the race, sources with direct knowledge of the matter told Reuters on Monday. 

Qatar Islamic Bank and Bank Mega TBK were among suitors that submitted second-round bids ahead of last week's deadline, sources added.(source)

BANKING - Indonesia Targets Persian Gulf to Boost Assets: Islamic Finance

Indonesia's Foreign Ministry and central bank are seeking investment from the Persian Gulf to meet its target of increasing Shariah-compliant banking assets by 35 percent this year.

The delegation may meet officials in the Middle East as soon as this month, with Saudi Arabia and Kuwait the most likely destinations, Mulya Siregar, the Jakarta-based director of Islamic services at Bank Indonesia, said in a May 31 interview. (source)

BANKING - Arqaam to help Indonesian banks find buyers

About five conventional and three Islamic lenders may be looking to help raise money for growth

Dubai : Arqaam Capital Ltd, a Dubai-based investment bank, wants to help other Indonesian lenders find investors in the Gulf region after advising PT Bank Kesawan on the sale of a stake in itself to Qatar National Bank SAQ. (full story)

BANKING - QNB Group Acquires 69.59% Shares of Bank Kesawan

Theindonesiatoday.com - Qatar National Bank Group (QNB) has acquired 69.59% shares of PT Bank Kesawan Tbk through rights issue, lower than its original plan 82.41%, Bisnis Indonesia reported this morning.

Other shareholders of Bank Kesawan are PT Adhi Tirta Mustika (9.01%) and public investors (21.4%). Previously, Adhi Tirta held 51.23% shares of Bank Kesawan.

Meanwhile, Bosowa Corporation Group keeps its 15% ownership in Bank Kesawan by allocating Rp100 billion for buying new shares. (source)

BANKING - Qatar National May Become Holder in Bank Kesawan

Sept. 1 (Bloomberg) -- Qatar National Bank SAQ, the Persian Gulf country's biggest lender by assets, may become the controlling shareholder of PT Bank Kesawan after a planned rights offering by the Indonesian lender.

The banks signed a "letter of intent" which makes the Qatari lender the "standby buyer" for the offer, Doha-based Qatar National said in an e-mailed statement today. The offer is expected to close in the first quarter of 2011.

"The Letter of Intent with Bank Kesawan supports QNB's international expansion plans, which in recent years have become an integral part of the Bank's growth strategy and commitment to diversify the sources of its revenue," Qatar National said in the statement.