Singapore-based financial services group DBS Group Holdings (DBSDY.PK,DBSDF.PK) reportedly won the approval of Indonesia's central bank to acquire a 40 percent stake in PT Bank Danamon Indonesia Tbk.
There is also the possibility of enhancing the stake if reciprocity conditions between the two countries are agreed. DBS had proposed in April 2012 to buy the whole of Danamon for about $6.8 billion.
Meanwhile, responding to reports, DBS said it has not received an official written notification of the approval from Bank Indonesia. ''DBS hopes the application will be approved as originally submitted and will continue to be closely guided by Bank Indonesia,'' the firm said in a statement.
The stock is currently up 0.23 percent on the SGX at S$17.39.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.