LAST YEAR MANOJ Nanwani, a research analyst at BNP Paribas Peregrine, had almost completed the depressing task of surveying the distressed Indonesian banking sector when he stumbled across a nugget in the dross. “It’s a real bank!” he announced to his clients, proof that there was still a flicker of life in the country hit worst by Asia’s 1997 financial crisis.
The commendable bank was a small regional operation based in Java, one of a select group that came through the crisis almost unscathed.
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