The Global banking scandals have found yet another addition to the crackdowns. Indonesia’s KPPU, the nation’s antitrust watchdog, has announced that there is “a strong indication of a cartel in our banking industry.” The statement was made at a press conference by KPPU Chairman Nawir Messi. According to reports, the authority is accusing the nation’s banks of fixing prices that affect lending rates, and that Bank Indonesia may be the cause for such negligence. Statistics have found that the nation’s banks are about twice as profitable as their counterparts in Southeast Asia, China and India. But analysis has found inefficient operations among local banks. As a result, the KPPU will initiate a legal case.
Full Content: The Jakarta Post
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI