The banking industry in Indonesia continues to attract attention from foreign investors, as reported by the Financial Services Authority (OJK). Several banks in Indonesia have become the target of foreign investors for acquisition throughout this year. Dian Ediana Rae, the Executive Head of Banking Supervision at OJK, states that the enthusiasm of foreign investors to acquire banks in Indonesia is quite high. She emphasizes that the acquisition application process is still ongoing, and a selection will be made among several applicants.

Dian sees that the interest of foreign investors in acquiring banks in Indonesia is due to its significant potential, especially in terms of digitalization. Data from the Coordinating Ministry for Economic Affairs of the Republic of Indonesia shows that 40% of digital transaction value in ASEAN originates from Indonesia. She states that Indonesia's banking sector is open to foreign investors to strengthen capital in support of sustainable bank growth.

According to Piter Abdullah, the Executive Director of the Segara Institute, Indonesian banks are always attractive to foreign investors because they offer a high level of profit derived from a large net interest margin (NIM). Additionally, Indonesia has a large population with a demographic bonus, and Bank Indonesia notes that there are still 28 million people not connected to banking services.

Several banks in Indonesia have attracted the attention of foreign investors for investment, and some foreign corporations have formed strategic partnerships with banks in Indonesia. For example, KakaoBank, the largest digital bank in South Korea, has acquired a 10% stake in Superbank, a digital bank owned by PT Elang Mahkota Teknologi Tbk. (EMTK). Some banks, such as PT Bank Commonwealth and PT Bank KB Bukopin Tbk., are also exploring investments, with interest from Malaysian bank CIMB and Japanese J Trust.

Efforts to attract new strategic investors are also evident at PT Bank Syariah Indonesia Tbk. (BSI), which is currently exploring the possibility of obtaining new strategic investors to replace the ownership of PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) and PT Bank Negara Indonesia (Persero) Tbk. (BBNI). Deputy Minister of State-Owned Enterprises Kartika Wirjoatmodjo and Minister of State-Owned Enterprises Erick Tohir have been seeking strategic investors from Saudi Arabia to replace the positions of these two state-owned banks in BSI.