Tamara, China Trust, tie up

JAKARTA (JP): Publicly-listed Tamara Bank has set up a joint venture bank with Taiwan's China Trust with a paid up capital of Rp 150 billion (US$62.5 million).

Tamara's vice president, Hendrik Suhardiman, said Saturday the new bank, called Bank China Trust Tamara, would be launched in June.

He said the new bank, which had got approval from the Ministry of Finance and the Central bank, was expected to serve corporate customers.

"We also want the new bank as an advisor for Taiwanese businesspeople intending to invest in Indonesia," he said.

China Trust will be the first Taiwanese bank to enter Indonesia.

Tamara Bank is listed on the Jakarta Stock Exchange. (icn)