Thu, 19 Oct 2006
Bank Permata reshuffles management

Jakarta (ANTARA News) - PT Bank Permata, Indonesia's seventh largest bank by assets, has revamped its board of commissioners and directors after recent changes in the ownership structure, corporate secretary Imam Teguh Saptono said.

Bank Permata is now 89 pct owned by a consortium of Standard Chartered Bank and PT Astra International after they recently acquired an additional 25.9 pct stake in the lender from the government.

The company's shareholders have approved the appointment of only two new directors and commissioners after four from each board resigned, Saptono was quoted by XFN-Asia as saying.

He said after the replacement, the number of board members has been reduced to eight from 10.

The new directors are Ignatius Robby Sani and Giridhar Varadachari while the new commissioners are Herwidayatmo and David Worth. (*)



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