Bank Mandiri said to be working on $2.2b takeover of StanChart-backed Permata

Customers use PT Bank Mandiri automated teller machines in Jakarta, Indonesia. Photographer: Dimas Ardian/Bloomberg

Indonesia’s state-run PT Bank Mandiri is exploring a takeover of PT Bank Permata, the rival lender backed by Standard Chartered Plc, people with knowledge of the matter said.

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