CIMB ‘Categorically Denies’ that It Will Privatise Indonesian Unit Niaga

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CIMB Group Holdings denied reports of the privatization of PT Bank CIMB Niaga. They reiterated their commitment to maintaining operations in Indonesia.

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KUALA LUMPUR - CIMB Group Holdings Bhd today denied plans to privatise its Indonesian banking subsidiary, PT Bank CIMB Niaga Tbk. In a statement, the group said no decision had been made on the plan and no formal proposal had been made regarding the possible privatisation of CIMB Niaga. The 92.5 per cent-owned unit remains an integral part of the group's regional operations network, which is also committed to its operations in Indonesia. "The gr…