Jan 17, 2011

BCA buys 1% stake in Bank Ekonomi

One of Indonesia's largest bank PT Bank Central Asia Tbk (BCA), owned by Djarum Group, today announced a 1% shareholding purchase in PT Bank Ekonomi Raharja Tbk.
BCA has entered into a share sale agreement with PT Surya Sakti Investments. Bank Ekonomi is a member of HSCB Group in which HSBC Asia Pacific Holding (UK) Limited controls 98.96% stake in Bank Ekonomi.
"The stake purchase in Bank Ekonomi is a postive pace to advance relationship between BCA and HSBC Group," BCA President Director D.E. Setijoso said in a press statement submitted to Indonesia Stock Exchange (IDX) today.
Adding to that, the customers services quality of both banks could be enhance by synergizing competitive advantages. Bank Ekonomi is one of privately-owned bank with a good healty. It became a publicly listed bank at Indonesia Stock Exchange.
By end of September 2010, Bank Ekonomi total assets reached Rp22.1 trillion with credit portfolio of Rp10.2 trillion. The third parties funds reached Rp19.3 trillion, while capital adequacy ratio and non performing loan reached 19.7% and 0.6% respectively. The 1% stake purchase has been obtained an approval from Bank Indonesia.  

Disclosure: No position at the stock mentioned above.  

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