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BBTN to Acquire Bank Victoria Syariah?

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Algo Research Team


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Key Summary:


  • POJK regulation requires spinoff
  • BBTN states M&A deal is finalizing
  • Is BVIS the target? On off since 2022

Bank Tabungan Negara (BBTN) has reportedly agreed on the pricing to purchase a Syariah bank in Indonesia with the Conditional Sale & Purchase Agreement (CSPA) targeted to be finalized by the end of the year.


Context: BBTN must spinoff its Syariah business unit (UUS) in order to meet the requirement from the Indonesian Financial Authority (OJK).


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