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Bank Tabungan Pensiunan Nasional eyes expansion in Southeast Asia

PT Bank Tabungan Pensiunan Nasional Tbk is looking to expand its business to other countries in Southeast Asia, IDNFinancials reported Oct. 8, citing the bank's compliance director, Anika Faisal.

The Indonesian lender will conduct the expansion after its planned merger with PT Bank Sumitomo Mitsui Indonesia, a local unit of Japan's Sumitomo Mitsui Banking Corp., which is expected to be completed in January 2019.

Following the merger, Bank Tabungan Pensiunan Nasional expects synergy in the financing business portfolios of both entities, Anika said.