Compelo Banking is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More

HSBC quits BII stake race

UK-based HSBC has opted out of the race to buy Temasek Holdings's 42% stake in Bank Internasional Indonesia, while South Korea-based investment banking group Kookmin will continue to bid for the shares, reported Reuters.

Media reports have quoted a source close to the deal as saying that Temasek will very soon decide on the buyer of the stake. Temasek has a stake in two Indonesian banks, Bank Internasional Indonesia (BII) and Bank Danamon.

According to the new regulations set by the Indonesian central bank, a foreign investor cannot hold a stake in more than one bank and hence Temasek is planning to sell its 42% stake in Bank Internasional Indonesia.

The other bidders along with Kookmin for BII are Bank of China and Malayan Banking.