Indonesia

Lenders keen on seizing opportunity to expand market and boost profit by tapping the less affluent.

Availability of funds the allows the lender to expand network by buying medium sized banks.

A Standard Chartered plc affiliate, Qatar Islamic Bank SAQ and Oversea-Chinese Banking Corp are among bidders for a controlling stake in PT Bank Muamalat Indonesia.

Bank Mandiri will allocate 35 percent of its net profits for dividends, amid dividend cuts by other state-run lenders.

Bank Indonesia will need one more week to complete its investigation into the alleged cases of fraud at Bank Mega.

Analysts estimate the bank’s 2011 profit to rise 28% to $1.38bn following gain from the stake sale in Garuda Indonesia's IPO.

Corporate loans posted the highest growth of 48% while consumer and SME and commercial lending soared by 39% and 38%.

Strong growth loan has prompted analysts to estimate the bank’s 2011 profit to surge 13% to $1.51bn.

State-owned Bank Mandiri will finance the construction of two 40-meter missile boats for the Indonesian Navy. The deal is worth Rp 65.97 billion or about US$7.65 million.

PT Bank Syariah Mandiri booked Rp 418.5 billion in net profits last year, a 43.8 per cent increase from the Rp 290.9 billion it earned in 2009.

Bank BNI disbursed US$1.16 billion or Rp 10 trillion in infrastructure loans as of March. This is an increase of 122 per cent from Rp 4.5 trillion at the end of 2010.

Indonesia's House of Representatives will inquire further into the death of a Citibank client, Irzen Octa.

The deal will make Bank Mandiri owner of 60% of ADB’s shares while AXA will control the remaining 40%.

Bank Mandiri joined hands with Garuda Indonesia to offer free tickets for international travel to certain destinations.

The lender also plans to open 28 sub- branches, including in Bali and Kalimantan, as it plans to boodt its assets by 50%.

Bank Central Asia is bracing for a loss of 300,000 of its credit card customers after the recent acquisition of retail chain Carrefour by Bank Mega.