JAKARTA (Yosefardi) – PT Bank UOB Indonesia plans to boost its assets to Rp100 trillion by end 2015, supported by organic growth and non-organic growth including through the initial public offering (IPO), Bisnis Indonesia reported this morning.
The bank might offer minimum 20% shares to public. The bank’s assets is expected to reach Rp68 trillion by end of this year. In mid and long term, the bank plans to launch the acquisition and set up joint venture (JV).
Bank UOB is a new entity of the merger of Bank UOB Indonesia and Bank UOB Buana, made in 2010. Bank UOB Buana was a listed company but then went private in 2009.
Bank UOB Indonesia booked net profit of Rp647.99 billion in first nine months of this year, declined 34% from Rp987.67 billion in the same period of last year.