Bank UOBB changes name

JAKARTA (JP): United Overseas Bank Ltd. (UOB) announced on Wednesday its subsidiary PT United Overseas Bank Bali (UOBB) had changed its name to PT Bank UOB Indonesia.

The Singapore-based bank said in a statement on Wednesday the change was approved by the Ministry of Justice and Human Rights and took effect as of Sept. 22.

The joint-venture bank, which is 79.9 percent owned by UOB, was established in Jakarta in 1990 and currently has six offices in Jakarta, Bandung, Batam, Surabaya and Bintan.

Bank UOB Indonesia has 85 percent ownership of joint-venture stockbrokerage PT UOBB Securities, as well as an interest in joint-venture life insurance company PT UOB Life-Sun Assurance. (10)