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)