In Focus
RETAIL BANKING | Cesar Tordesillas, Indonesia

Maybank sure to keep control of Bank Internasional Indonesia

Maybank expects to keep its controlling stake in Bank Internasional Indonesia despite the recent change in bank ownership rules in Indonesia.

Three weeks ago, Indonesia’s central bank issued new rules limiting ownership in domestic banks at 40 percent.

However, it said it would allow waivers if the owners were listed banks that maintained high levels of corporate governance and were in sound financial health.

“We have been engaging with Bank Indonesia ... we should qualify for the waiver,” said Maybank president and chief executive Datuk Seri Abdul Wahid Omar.

Maybank owns 97.3 percent of BII, which it bought in 2008.

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