이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
- Collected
- 2019.08.19
- Distributed
- 2019.08.20
- Source
- Go Direct
Industrial Bank of Korea (IBK) gained a green light from Indonesian authorities in its acquisition and merger plan and is set to launch a comprehensive lender in the Southeast Asian market next month.
IBK confirmed it received final approval from Indonesia`s Financial Services Authority (OJK) to merge two Indonesian banks Agris and Mitraniaga Bank that it had acquired in January.
The Korean lender will officially launch IBK Indonesia Bank as a combined organization in September, it said. The approval came eight months since the financial services regulator took administrative measures for the merger.
IBK Indonesia Bank plans to support not only Korean businesses in Indonesia but also local Indonesian businesses by setting up a help desk dedicated to Korean firms and a foreign currency department. IBK aims to increase the number of IBK Indonesia Bank branches from 30 to 55 by 2023.
The latest approval represents IBK’s first fruition of its vision to expand its presence through M&A deals in overseas markets. IBK head Kim Do-jin has led this vision since he took office in 2017. IBK has run bank branches in other Southeast Asian countries such as Myanmar, Cambodia and Vietnam.
IBK is seeking to upgrade its two branch offices in Vietnam into corporate bodies. The bank’s ultimate goal is to build a global financial network to support Korean small enterprises operating abroad.
By Kim Tae-sung and Minu Kim
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]