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Rabu, 30 Agustus 2017

Bank Andara Changes Its Name to Bank Oke Indonesia

PT Bank Andara was officially renamed PT Bank Oke Indonesia, according to the company's announcement in Bisnis Indonesia, the largest business news paper in Indonesia that release today. Last year, a South Korean lender APRO Financial Co. Ltd has acquire a 40% stake in Bank Andara. As qouted by jakartapost.com, as of Dec 2012, the major shareholder in Bank Andara, at 22%, was the US aid agency Mercy Corps.

The bank'€s remaining shareholders are US investment bank Developing World Markets Inc. (DWM) with 21.47%, global financier International Finance Corporation (IFC) (19.9%), German financing firm Kreditanstalt fÃr Wiederaufbau (KfW) (15.81%), the Netherlands foundation Stichting Hivos-Triodos Fund (15.51%) and Balinese investor I Wayan Gatha (5.31%).

After the acquisition, APRO Financial Co. Ltd. will become the bank'€s controlling shareholder with 40 percent shares, while the remainder will be held by IFC (19.9%), Mercy Corps (13.2%), DWM (12.88%), KfW (9.48%), Stichting Hivos-Triodos Fund (9.3%) and I Wayan Gatha (3.19%).

Through the acquisition, APRO is expected to inject additional capital worth Rp 450 billion, bringing Bank Andara'€s total capital to Rp 750 billion. Bank Andara is a BUKU 1 bank with total equity of Rp 177.4 billion and total assets of Rp 1.01 trillion as of 2014. BUKU 1 banks are those with a core capital of below Rp 1 trillion.

Recently, APRO Financial Co. Ltd also has acquired a 77% of the bank Dinar shares for Rp 691 billion. Three major shareholders Of Bank Dinar (Nio Yantony, Andre Mirza Hartawan and Syaiful Amir) has agree to sell their shares. Nio, Andre  and Syaiful was respectively sell 29.16%, 21.15% and 10.58%. 

APRO Financial Co. Ltd currently is planning to merge Bank Dinar with Bank Andara. The merged bank would enter the BUKU II category, with core capital between Rp 1 trillion and Rp 5 trillion. The new majority shareholder plans to open at least six branches a year as part of the bank’s expansion plan.

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