Mashill, Brussels Lambert form alliance<\/p>\n
JAKARTA (JP): Bank Mashill announced Saturday that Bank
\nBrussels Lambert (BBL) of Belgium has bought a 10 percent stake
\nof its outstanding shares from the public.<\/p>\n
The bank said in a statement that with the purchase, the two
\nbanks would form a strategic alliance, creating a synergistic
\npartnership in customers, network, products and technology.<\/p>\n
With the alliance, the two banks would be better positioning
\nthemselves in catering to an increase in intra-Asian and Pacific
\nrim trade as well as in anticipation for the era of
\nglobalization, the bank said.<\/p>\n
According to the bank, as the region, and the world economy,
\nmoves toward a more open economy in terms of trade and financial
\nservices, in line with Afta by 2003 and WTO guidelines, the two
\nbanks are laying the foundation for future growth.<\/p>\n
Bank Mashill, listed on the Jakarta Stock Exchange, has assets
\nof more than Rp 1.65 trillion (US$687 million) and a network of
\n35 branches in Indonesia's seven major cities.<\/p>\n
The bank's focus of operations is lending to the trading,
\nindustry and business services sectors while also providing
\nconsumer products like motorcycle loans, credit cards and home
\nmortgages.<\/p>\n
BBL is a leading bank in Belgium. Ranked by total assets ($100
\nbillion), BBL is a global top-100 bank and number three in
\nBelgium. The bank's core business areas are retail and
\nprofessional banking, investment and merchant banking (including
\nasset management) and international banking.<\/p>\n
In its domestic market, BBL has about 1,000 branches and 300
\nfully automated Self-Banks based on the Bank's edge in
\ninformation technology. Through specialized companies, BBL also
\nprovides services in the areas of insurance, leasing, factoring
\nand travel. Internationally, BBL has operations in 28 countries,
\nincluding the main financial centers of London, New York, Hong
\nKong and Singapore.<\/p>\n
The bank has a subsidiary in Australia, representative
\noffices in Bangkok, Beijing, Jakarta, Seoul and Tokyo and an
\nequity participation in India's Vysya Bank. The activities in
\nthis region are managed from a Regional Head Office in
\nSingapore. (13)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/mashill-brussels-lambert-form-alliance-1447893297",
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"sponsor": "Okusi Associates",
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