TOKYO: Sumitomo Mitsui Financial Group Inc (SMFG) is planning to book an impairment loss of around US$500mil on its minority stake in Indonesian lender PT Bank Tabungan Pensiunan Nasional Tbk (BTPN), sources said.
Japan’s third-largest lender by assets will book a 60 billion yen loss for the April-September period after shares of BTPN fell sharply this year in tandem with Indonesia’s broader market, said the sources. – Reuters
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!