Bank Pikko, Danpac to merge<\/p>\n
JAKARTA(JP): Bank Pikko plans to merge with the publicly
\nlisted Bank Danpac in a bid to create a more efficient and
\nstronger banking institution, according to the former's president
\nAry Karyono.<\/p>\n
"The merger talks are in process. It'll take some time, of
\ncourse, as we're still at the preliminary stage of preparations,"
\nAry told reporters following a shareholders meeting.<\/p>\n
Bank Pikko director Herman Chondro said that the merger
\nprocess of the two banks should be relatively smooth as they have
\nthe same majority shareholder.<\/p>\n
The two small banks are majority controlled by Singapore-based
\nChinkara Capital Ltd.<\/p>\n
Bank Indonesia has required that all banks must have a minimum
\ncapital adequacy ratio (CAR) of 8 percent by the end of this year
\nor risk closure. To avoid closure, banks are being urged to
\nmerge.(10)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bank-pikko-danpac-to-merge-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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