RI-Korean financial firm

Thu, 07 Sep 1995, 00:00 WIB | Source: JP

JAKARTA (JP): The publicly listed Bank Dagang Nasional
Indonesia (BDNI) and Saehan Merchant Banking Corporation (SMBC)
of South Korea commenced the operation of their joint venture
firm here yesterday.

The joint venture, named PT SMBC Indonesia Finance, will
provide leasing, factoring and consumer financing services. BDNI
has a 15 percent stake in the multi-finance company, with a paid-
up capital of Rp 1.5 billion (US$682,000), while its Korean
partner holds the remaining 85 percent.

SMBC is the second largest merchant bank in South Korea in
terms of net profits, with leased assets of $2,587 million. (hen)

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