HK bank eyes stake in RI bank

HK bank eyes stake in RI bank

HONG KONG: Hong Kong's mid-sized Bank of East Asia Ltd. has
applied to increase its stake in Indonesia's PT Bank Daiwa
Perdania, as part of its expansion plans, a spokeswoman said
Monday.

The Bank of East Asia spokeswoman said the bank plans to raise
its stake to 30 percent from 24.5 percent, although it is still
awaiting the go-ahead from the regulator, Bank Indonesia.

She also said the bank, which already has one branch in
Taipei, has received permission to open a second branch in
Taiwan's southern city of Kaohsiung.

The spokeswoman said the bank is still finalizing plans for
the second Taiwan branch, and that an announcement is likely
"very soon." -- Dow Jones