The announcement today that Singapore’s DBS will take a controlling stake in Indonesia’s Bank Danamon is the strongest indication yet of the changing landscape of banking in Southeast Asia.
Banks such as DBS and Malaysia’s CIMB are determined to build on their strong bases in domestic markets and become regional players.
DBS will buy a 67% controlling stake in Danamon that is currently owned by the Singaporean state investment agency, Temasek – which is also a leading shareholder in DBS.
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