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Indonesia's Bank Nusantara Parahyangan mulls merger with Japan's MUFG

Indonesia-based PT Bank Nusantara Parahyangan Tbk is considering a merger in relation to its parent company, Mitsubishi UFJ Financial Group Inc., IDNFinancials reported July 5.

Bank Nusantara Parahyangan shareholders support the merger option, according to the report from the Indonesian stock exchange's news outlet. The report is unclear if the option refers to a merger with MUFG or the group's wholly owned unit, MUFG Bank Ltd.

Based on S&P Global Market Intelligence data, MUFG owns 67.6% of the Indonesian lender while MUFG Bank owns 8%.