Overview

In a bid to support the growth of the national economy, the Indonesian Government is continuously striving to strengthen various industries across Indonesia, including the banking industry. With due regard to this goal, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) is has been continuously encouraging Indonesian banks to undertake corporate actions in order to establish a more competitive banking industry,[1] especially over the course of 2020.[2] In fact, the OJK has even hinted at its intention to force such corporate actions if this is ultimately deemed necessary.[3]