Apr 27, 2011

SBI Securities to inject BNI Securities

Indonesia's fourth largest lender by asset PT Bank Negara Indonesia Tbk (BNI) has invited a Japanese securities house dubbed SBI Securities Co Ltd to be a strategic partner in local brokerage PT BNI Securities. The strategic partnership with SBI Securities is aimed to help expanding BNI Securities' business in the future. 
BNI will allow SBI Securities to put a Rp114 billion cash into BNI Securities via rights issue, entitling the Japanese brokerate with 25% shareholding.
BNI President Director Gatot M. Suwondo said the bank will remain a controlling shareholder in BNI Securities, since the Japanese company will own not more than 25% in Indonesia.
“The company will be stay majority in several subsidiaries, including BNI Life, BNI Syariah and BNI Securities. So, it won’t be a problem if we make synergy with SBI Securities as a strategic investor,” he said in a press conference today.
The company chooses SBI Securities for its improved online technology to develop retail business, the area in which BNI Securities will work in the future, as he added.
“BNI Securities yet to get there [retail technology]. So, we need to strengthen. SBI Securities in Japan can control the retail market as number one. We want the same thing in Indonesia,” he explained.
SBI Securities is a subsidiary of SBI Holding Co Ltd, a stellar online trading player in Japan with advanced technology services in many financial services.

Disclosure: No position at the stock mentioned above.

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