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ADIB is not moving to acquire a minority stake in Indonesia’s largest Islamic bank: ADX-listed Abu Dhabi Islamic Bank (ADIB) is not planning to acquire a stake in Indonesia’s top Islamic lender, Bank Syariah Indonesia (BSI), denying in a bourse disclosure (pdf) “being in any negotiations to acquire a stake in such entity.”
ADIB’s statement came in response to a Reuters report earlier in the day claiming that the Emirati lender is in early talks to acquire a 15% stake in BSI for USD 1.1 bn from state-owned Bank Rakyat Indonesia, which currently holds 17.25% of BSI. Reuters reported that ADIB is aiming to capitalize on the rapidly growing demand for Sharia-compliant lending services in Indonesia, Southeast Asia’s biggest economy.
About BSI: The Indonesian bank is ranked the 10th biggest Islamic lender worldwide and held a 38% market share in Indonesia’s Islamic banking sector as of February 2023.
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