Using a unique sample of bank loan announcements in Indonesia, we investigate how minority shareholders in publicly listed state-owned banks anticipate being affected by the new loans extended by such banks. Our empirical findings provide evidence that minority shareholders do not anticipate being negatively affected because even if a risk of expropriation exists (“grabbing hand” effect) it is offset by the “helping hand” effect (such as expected bailouts). Our findings furthermoreshow that shareholders do not anticipate benefiting from a twin “helping hand” effect when loans are extended to state-owned firms, or a cumulative effect of "helping hand” and co-insurance effects when loans are extended to firms belonging to a pyramidal business group.