JAKARTA. South Korea-based financial institution APRO Financial Co Ltd announced a plan to acquire 77.38% of the shares of PT Bank Dinar Indonesia Tbk. However, the acquisition must be approved by the extraordinary shareholders meeting, which will be held on 6 February 2017. Previously, APRO had acquired Bank Andara. In accordance with the Financial Service Authority or FSA’s rules, foreign institutions that want to control the majority shareholders of domestic bank should acquire at least two banks, and merge the banks. President Director of Bank Dinar Hendra Lie said that the bank still has not yet formulated its business plan. However, the bank will remain focus on retail banking. Hendra continued, APRO had once mentioned that after merger, the bank will remain focus on retail and small medium enterprise (SME).
Korean investors acquiring domestic bank
JAKARTA. South Korea-based financial institution APRO Financial Co Ltd announced a plan to acquire 77.38% of the shares of PT Bank Dinar Indonesia Tbk. However, the acquisition must be approved by the extraordinary shareholders meeting, which will be held on 6 February 2017. Previously, APRO had acquired Bank Andara. In accordance with the Financial Service Authority or FSA’s rules, foreign institutions that want to control the majority shareholders of domestic bank should acquire at least two banks, and merge the banks. President Director of Bank Dinar Hendra Lie said that the bank still has not yet formulated its business plan. However, the bank will remain focus on retail banking. Hendra continued, APRO had once mentioned that after merger, the bank will remain focus on retail and small medium enterprise (SME).