Singapore is less attractive market for Indonesia's largest bank

It's just a ''small opportunity''.

According to Bloomberg, Budi Gunadi Sadikin, the head of Indonesia’s largest bank, said his home market is more attractive than Singapore less than a month after Indonesian efforts to get access to the city state scuttled what would have been Southeast Asia’s biggest banking takeover.

Bloomberg reported: “It is more important for the Singaporean banks to get into Indonesia” rather than the other way round, said Sadikin, president director of PT Bank Mandiri (BMRI), referring to his country’s under-penetrated banking sector and Singapore’s smaller economy and population. “Singapore to us is a small opportunity,” he said in an interview last week.

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