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Economy

Bank Mandiri bets on peer-to-peer lender

Acquisition could help state-owned bank lend to small businesses

Eddi Danusaputro, left, CEO of Mandiri Capital Indonesia, and Andi Taufan Garuda Putra, right, founder and CEO of Amartha Mikro Fintek, hold a press conference in Jakarta on March 7.

JAKARTA -- The venture capital arm of Bank Mandiri, Indonesia's largest state-owned bank by assets, on Tuesday said it has acquired a stake in peer-to-peer lending startup Amartha Mikro Fintek.

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