Indonesia privatizes Bank Rakyat Indonesia

Government sends out an RFP (Request for Proposals) for an IPO to raise up to $300 million.

The Indonesian government has taken the first steps in the privatization of the developing world's largest and some would say most successful microfinance institution, Bank Rakyat Indonesia BRI. A state bank since its foundation just over a century ago, BRI is known as the people's bank, with 78% of its deposit and lending base either retail or microcredit customers those with loans under $500.

Having never historically lent to large corporates, BRI did not suffer from...

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