| This research aimed to analyze the bank's financial performance before and after merger or acquisition with foreign parties that uses CAMEL ratios as follows price to earnings ratio, dividend payout ratio, dividend yield, cash and bank to total deposit ratio, equity to total asset ratio, loans to total deposit ratio, net profit margin ratio, return on investment and return on equity. The method used in this research is paired t-test and significance level of 5%. The samples is taken from 6 banks that implementing merger or acquisition with foreign bank listed on the Indonesia Stock Exchange dated between 2005, 2006,2007, and 2008. Data were processed using SPSS 16 software. The results showed that the following ratios : Price Earnings Ratio, Dividend Payout Ratio, Dividend Yield, Cash and Bank to Total Deposit Ratio, and Loans to Deposit Ratio after merger or acquisition with foreign bank is better than the bank's financial performance before merger and acquisition with the foreign banks. While Equity to Asset Ratio, Net Profit Margin Ratio, Return on Investment Ratio and Return on Equity Ratio is not getting better after merger or acquisition with foreign banks |