DBS denies rumours of Indonesian subsidiary merger with Bank Central Asia; analysts cautious on deal - The Business Times

[SINGAPORE/JAKARTA] DBS has denied market rumours that its Indonesian banking subsidiary could be merged with Indonesia’s Bank Central Asia (BCA), after shares of the Indonesian lender jumped amid talk of a potential deal.

“There is no truth to this rumour,” a DBS spokesperson told The Business Times. BT has also reached out to BCA for comment, but has not received a response at the time of writing.

Shares of BCA, one of Indonesia’s largest banks listed on the Indonesia Stock Exchange, surged more than 7 per cent on Wednesday to close at 5,275 rupiah.

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