Bank NISP, considered one of Indonesia's best-managed banks, will soon be owned by Singapore's third-largest bank, Oversea-Chinese Banking Corp (OCBC), which last week announced plans to increase its stake in NISP to gain a 51 per cent controlling share. The plan is a follow-up of a deal secured in March, when OCBC acquired a 22.5 per cent
stake in the Indonesian bank.
Not only will this latest move improve the position of OCBC for long-term growth in Indonesia's huge market, which boasts 150-plus registered banks, but it could also improve the country's business climate by further nurturing small-and medium-sized
enterprises (SMEs).
