Arqaam Capital Ltd., a Dubai-based investment bank, wants to help other Indonesian lenders find investors in the Gulf Arab region after advising PT Bank Kesawan on the sale of a stake in itself to Qatar National Bank SAQ. (QNBK)
“There is active interest from a number” of mid-tier Indonesian banks to do deals such as the Qatar National Bank investment, Tamer Nazih Makary, Arqaam’s executive director, said in an interview in Dubai yesterday. About “four to five conventional banks, and two to three Islamic banks” may be looking to sell stakes to help raise money for growth, he said.
Doha-based Qatar National Bank, the Persian Gulf country’s biggest lender by assets, took a 70 percent holding in Indonesia’s PT Bank Kesawan after becoming the standby buyer in its rights offer in January. Indonesia has more than 100 banks and the country’s central bank has prodded them to combine and boost capital after it spent 450 trillion rupiah ($37 billion) on bailouts following the 1997-98 Asian financial crisis.
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