Kasikornbank increases stake in Indonesia’s Bank Maspion to 84.55%

The Thai bank is injecting an additional US$226m in Bank Maspion.

Kasikornbank has acquired additional investments in PT Bank Maspion Indonesia, increasing its stake to 84.55%.

The Thai bank is injecting an additional THB8b (over US$226m) into the Indonesian bank. After this, its total capital injection will stand at THB15.441b or approximately US$437m.

This strategic move will contribute significantly to the continuous growth of Bank Maspion, strengthening its operations and enhancing its customer service capabilities, whilst fortifying KBank’s position as the controlling shareholder of Bank Maspion, the bank said in a press release.

ALSO READ: Thailand’s KBank has issued U$546m in sustainable financing

The move also reinforces KBank’s goal of becoming the largest bank in East Java.

The capital injection is in alignment with KBank’s goal to become A Regional Bank of Choice within AEC+3, said Pattarapong Kanhasuwan, Chairman of KASIKORN VISION FINANCIAL COMPANY.

“The effort is in line with KBank’s goal of becoming the largest bank in East Java by 2027,” he added.

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