JAKARTA (Yosefardi) – The Financial Services Authority (OJK) has approved the acquisition of local banks proposed by Shinhan Bank and China Construction Bank (CCB).
Shinhan has acquired 40% Metro Express in April 2015 at Rp700 billion value and intends to boost its ownership to 90%. Shinhan now proposes to acquire 75% stake in Centratama Nasional Bank (CNB).
While CCB proposes to acquire Bank Windu and Bank Antardaerah, and will focus its financing to infrastructure projects. Bank Windu itsel plans to acquire Bank Anda.