ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business deals

Indonesia creates ultramicro holding via $6.7bn rights issue

State-owned Bank Rakyat seeks to expand financing access to tiniest businesses

Bank Rakyat Indonesia is pinning growth hopes on lending to tiny businesses. (Photo by Nozomu Ogawa)

JAKARTA -- State-owned Bank Rakyat Indonesia has officially become a holding company for so-called ultramicro businesses, having acquired two smaller state enterprises as the trading period begins for the lender's potential record 95.9 trillion rupiah ($6.7 billion) rights issue financing the deal.

BRI, one of Indonesia's largest banks by assets, now holds 99.99% stakes of pawnshop chain Pegadaian and microlender Permodalan Nasional Madani.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more