KASIKORNBANK buys controlling stake at Bank Maspion for $186.5m

It now owns 67.5% of the Indonesian bank.

KASIKORNBANK or KBank has acquired additional shares at PT Bank Maspion Indonesia for $186.5m (THB6.5b), the bank announced in a press release.

KBank now owns 67.5% of Bank Maspion, and it is now the controlling shareholder of the Indonesian lender, said Pattarapong Kanhasuwan, chairman, KASIKORN Vision Financial Company.

Bank Maspion has an asset size of $888m (THB31.1b) with a network of 50 branches across Indonesia.