BRI considers subsidiary deals under Indonesia’s SOE overhaul
The bank says any corporate action would require detailed studies, regulatory compliance and public disclosure.
Indonesia’s PT Bank Rakyat Indonesia (Persero) Tbk. (BRI) is examining possible consolidation, mergers and acquisitions among its subsidiaries after the Danantara Investment Management Agency (BPI Danantara) directed state-owned enterprises to streamline their businesses.
Speaking to reporters in Jakarta, BRI Deputy President Director Viviana Dyah Ayu Retno said corporate action was likely, although its form remained under consideration. She said each decision would undergo detailed study, comply with regulations and be disclosed publicly.
Retno expressed the bank’s support for Danantara’s efforts to strengthen the state-company portfolio. She said the programme, undertaken through Danantara Asset Management, sought greater efficiency and competitiveness while generating economic value over the long term.
Danantara is working with the SOE Regulatory Agency (BP BUMN) on the restructuring and downsizing programme. The government wants between 200 and 300 corporate entities to remain, compared with about 1,077, with SOE subsidiaries included in that count.
President Prabowo Subianto reported that, as of October, about 360 to 365 SOE entities had undergone consolidation, closure or streamlining. Additional targets are scheduled through December 2026.
