April 18, 2024
Deals
KB Kookmin Bank sets to re-enter Indonesia
[THE INVESTOR] KB Kookmin Bank on July 2 said it signed a contract to buy new shares in Indonesian bank Bukopin.
The deal, which has received approval from Indonesia’s financial authorities, will allow the Korean bank to become the second-largest shareholder of the bank, with a 22 percent stake.
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Bank Bukopin is the 14th-biggest bank in Indonesia and has 322 branches.
Once the deal is completed, KB Kookmin Bank will enter the Southeast Asian country for a second time, as it unloaded its holdings in Bank Maybank Indonesia in 2008.
By Park Ga-young (gypark@heraldcorp.com)
