bank danamon

Bank Indonesia allows DBS to acquire 40% of Bank Danamon from Temasek, but no more for now.

The Singapore bank will also make an offer to minority shareholders at a 52.2% premium to the latest close, which could potentially increase the acquisition cost to $7.2 billion.

Sources say the Singapore bank has made a bid for Temasek's 67.4% stake, which is valued at about $3.2 billion at the current share price.

Citi, Opic and Bank Danamon announce the closing of a $20 million term loan fund for a microfinance programme.

DBS continues to boost its ranking among the competition by appointing Tom McCabe as global transaction services head.

The Dutch bank appoints new heads for its Taiwan, Indonesia and Hong Kong teams.