HK firm to buy 25% of RI bank

HK firm to buy 25% of RI bank

HONG KONG (Dow Jones): Citic Ka Wa Bank may acquire a 25
percent stake in Indonesia's Bank Century Intervest Corp., the
Sing Tao Daily reported Friday.

An official at Bank Century Intervest Sriyono said the
acquisition will be finalized by the end of the year, the local
paper said.

The deal will be sealed Friday, however details of the terms
of the deal haven't been finalized, the paper said, quoting
unnamed sources.

Bank Century Intervest posted losses of more than Rp 10
billion in 1998 due to the Asian financial turmoil, the Chinese-
language paper said.

The Jakarta stock exchange expressed concern about the bank's
financial health and warned that the loss-making bank will be
withdrawn from the exchange if it fails to return to
profitability next year, the paper said.

Officials at Citic Ka Wa couldn't immediately be reached for
comment.