Indonesia looks to foreign acquirers for consolidation in crowded banking industry

Indonesia looks to foreign acquirers for consolidation in crowded banking industry

Construction workers labor on a building towering above the business district in Jakarta, Indonesia, on Tuesday, June 17, 2014. Photographer: Dimas Ardian/Bloomberg

Indonesia has almost 2,000 banks and a currency that’s plunged 11 percent since January, a combination overburdened regulators hope will prove irresistible to foreign acquirers.

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