Indonesia government may set up holding company for state banks

"We have submitted a proposal (to Bank Indonesia). The possibility is to set up a holding company," State Enterprises Minister Sofyan Djalil told reporters.
Bank Indonesia has set an end-2007 deadline for affected bank owners to decide on how they would comply with the rule.
Apart from setting up a holding company, owners can also merge the banks they control, or keep their stake in just one bank and sell their interests in other banks.
The government still controls three listed state banks -- PT Bank Mandiri, PT Bank Rakyat Indonesia and PT Bank Negara Indonesia. They are the first, third and fourth largest banks in the country.