Asian Banking enters RI

Asian Banking enters RI

SEOUL (Reuter): South Korea's merchant bank Asian Banking Corp. and Bank Internasional Indonesia plan to jointly take over an existing Indonesian merchant bank, the Korean bank said yesterday.

Asian Banking officials declined to give the name of the targeted Indonesian merchant bank. But the bank said in a statement this was part of a plan to start merchant banking business in Indonesia.

The statement said the company would unveil details once decisions were made by the end of June.