Indonesian lender BTPN's merger process with Japanese SMFG local unit inches ahead

Indonesian lender BTPN's merger process with Japanese SMFG local unit inches ahead

FILE PHOTO: Logo of Bank Tabungan Pensiunan Negara is seen in the bank's headquarters in Jakarta, Indonesia, May 11, 2011. REUTERS/Enny Nuraheni/File Photo

The proposed merger between Indonesian lender Bank Tabungan Pensiunan Nasional (BTPN) and Bank Sumitomo Mitsui Indonesia (SMBCI), a subsidiary of Japan’s Sumitomo Mitsui Financial Group (SMFG), inches ahead after both sides submitted their  documents to the financial authority.

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