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OJK proposes incentives for banks to merge

( July 14, 2016, 03:05 GMT | Insight) -- Indonesia’s Financial Services Authority has submitted a proposal to the Ministry of Finance for incentives to encourage bank mergers, Bisnis Indonesia reports. Indonesia’s Financial Services Authority, or OJK, has submitted a proposal to the Ministry of Finance for incentives to encourage bank mergers, Bisnis Indonesia reports. The proposed measures include tax cuts, an easing of legal lending limits, adjustments to minimum reserve requirements, and an easing of the required SME loan ratio. The report added that a number of banks were in the process of merging, including Bank Shinhan Indonesia with Centratama Nasional Bank, and Bank Windu Kentjana with Bank Antar Daerah after both were acquired by China Construction Bank. HSBC’s Indonesia unit is also merging with Bank Ekonomi Raharja. ...

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