Home UAE Abu Dhabi Shares in Bank Syariah Indonesia jump as ADIB denies buy-in talks The Indonesian bank’s share price rose on Thursday in trade despite denials from ADIB that it is in talks to acquire a 15 per cent stake by Reuters April 18, 2024 Shares of Bank Syariah Indonesia (BSI) surged as much as 5.6 per cent on Thursday after Reuters a day earlier reported on talks about a possible stake acquisition in Indonesia’s top Islamic lender by Abu Dhabi Islamic Bank (ADIB). Shares of BSI rose to as much as 2,620 rupiah and were later trading at around 2,600 rupiah. Shares of the lender have climbed over 50 per cent year-to-date, giving it a market cap of some $7b, LSEG data showed. However, ADIB has denied that its in talks to buy a stake in BSI. On Wednesday, the bank issued the following statement. “In response to recent speculations in the media suggesting Abu Dhabi Islamic Bank PJSC (ADIB) having an interest in acquiring an Indonesian financial institution (Bank Syariah Indonesia), ADIB strongly denies such reports of being in any negotiations to acquire a stake in such entity,” said ADIB. Tags ADIB Bank Syariah Indonesia You might also like UAE’s ADIB facilitated Dhs5.6bn in sustainable finance in 2023 ADIB denies it’s in talks to buy $1.1bn stake in Indonesian bank Power Letters 2024: Nasser Al Awadhi, group CEO of ADIB UAE: Abu Dhabi Islamic Bank successfully issues $500m green senior sukuk