OCBC, Bank NISP tie up

OCBC, Bank NISP tie up

SINGAPORE (Reuter): Oversea-Chinese Banking Corp Ltd said yesterday its joint venture company PT Bank OCBC-NISP had obtained a licence to operate in Indonesia.

It said in a statement the joint venture company started operations yesterday after receiving a licence from the Ministry of Finance.

The paid-up share capital of the company is 150 billion rupiah. OCBC Corp owns 85 percent of the paid-up capital and PT Bank NISP the remaining 15 percent.