Temasek wants to merge Indonesian banks: BII

Singapore's Temasek Holdings wants to merge Indonesia's Bank Internasional Indonesia (BII) and Bank Danamon pending approval from banking regulatory bodies here, BII said Thursday.
Bank Danamon is the fourth largest bank in Indonesia by assets, while BII is the sixth largest.
The Singapore government's investment arm, through Fullerton Financial Holdings (FFH), is the majority shareholder of Sorak Consortium.
Sorak owns 56.13 percent of BII shares and Temasek recently raised its stake in Sorak to 75 percent from 50 percent.
The Singapore government's investment arm also owns 85 percent of Asia Financial (Indonesia), which holds 68.87 percent of Bank Danamon.