INDONESIA - BANKING - BNI to sell subsidiary at high value

JAKARTA: PT Bank Negara Indonesia Tbk is poised to divest its ownerships in subsidiaries should there are prospective investors willing and able to pay at high and reasonable price.

BNI Finance Director, Yap Tjay Soen admitted that there have been many investors having strong interests in BNI’s subsidiaries, yet, they cannot afford the acquisition values offered by the listed lender.  (source)

INDONESIA - BANKING - BNI Delays Divestment of Three Subsidiaries

JAKARTA (IFT) – PT BNI Tbk (BBNI), the fourth largest bank in Indonesia in terms of assets, has yet to continue the divestment process of its three subsidiaries because of lack of investor with a high offer price. The bank currently has four subsidiaries, PT Bank BNI Syariah, PT BNI Securities, PT BNI Life Insurance and PT BNI Multifinance. (source)

INDONESIA - BANKING - Indonesian lender BNI Syariah ready for divestment

Indonesian state lender PT Ban Negara Indonesia (BNI, IDX:BBNI) said its sharia bank subsidiary, BNI Syariah, is ready to be sold to strategic investors.
BNI Syariah is in a better position compared to other BNI's subsidiaries to be divested, BNI's finance director Yap Tjay Soen said.
BNI is considering to sell part of its shares in four subsidiaries - BNI Syariah, BNI Securities, BNI Multifinance and BNI Life. (source)

BANKING - CIMB Niaga can become larger than Mandiri by 2016 - BRI might surpass Mandiri this year

JAKARTA (IFT) - According to the IFT Research Department, in the next five years, state-owned banks may face tough competition from private banks, whose majority stakes are controlled by foreign investors.

Assets growth in PT Bank CIMB Niaga Tbk (BNGA) and PT Bank Pan Indonesia Tbk (PNBN) in 2016 will surpass PT Bank Mandiri Tbk (BMRI) and PT Bank Central Asia Tbk (BBCA). This is reasonable as CIMB Niaga and Panin Bank recorded the highest average annual asset growth among ten largest banks in Indonesia. (full story - indonesia finance today)

BANKING - BNI to spin off BNI Syariah in 2012

JAKARTA (IFT) - Having sold 25 percent stake in PT BNI Securities, PT BNI Tbk (BBNI) plans to sell another subsidiary to a strategic partner in 2012. Gatot M Suwondo, Director of BNI, said that the company is considering releasing its shares in PT BNI Syariah. (full story)

RATINGS - Bank Negara Indonesia (Persero) Tbk.

PEFINDO affirmed the “_idAA” rating to PT Bank Negara Indonesia (Persero) Tbk (BBNI or the Bank)’s Bond I/2003 amounting to IDR 1.0 trillion due on July 10, 2011.  The Company’s readiness to repay its maturing Bond is supported by its large cash and cash equivalent balance, which at end of 2010 amounted to IDR20.4 trillion.  In addition, BBNI also has secondary reserve in the form of money market placements of IDR38.4 trillion. (full story)

FINANCE - KUR - BNI announces micro loans for migrant workers

Indonesia’s fourth-largest lender by assets, state-owned bank Bank BNI, is eyeing Indonesian migrant workers overseas as a new market for its micro loan product, KUR.