JAKARTA (Yosefardi) – HSBC (Hong Kong Shanghai Banking Corporation) Group plans to divest 10% shares of PT Bank Ekonomi Raharja Tbk (BAEK) in October this year.
Currently HSBC controls 98.96% BAEK shares, while PT Bank Central Asia Tbk (BBCA) owns 1% and public investors 0.04%.
In Indonesia, HSBC is among the fastest growing banks with 7.35% growth to Rp781.28 billion in first half of this year. While Bank Ekonomi dropped 23.34% to Rp105.33 billion due to increase in costs.
BAEK’s assets totaled Rp26.59 trillion with cash and cash equivalent of Rp447.17 billion. While ratio of operating expenses to operating income surged 90.39%. (yohanneso@yosefardi.biz)