HSBC to Integrate Indonesian Operations Under One Entity, Inject $1b in Capital
Jakarta. The London-headquartered HSBC Group announced the integration of its Indonesian operation with local subsidiary, Bank Ekonomi HSBC, which it acquired in 2009.
The global banking and financial services organization said Bank HSBC Indonesia will be the result of the integration, which will officially take place on April 17.
"As an integrated lender, we will start a new chapter to grow business, help customers and take advantage of Indonesia's economic growth," Sumit Dutta, newly appointed president director of Bank HSBC Indonesia, said during a press conference in Jakarta on Tuesday (09/05).
He said with the integration of the two lenders, the HSBC Group expects to provide customers with a global service as they will have access to many more banking services through HSBC's wide network.
HSBC has a presence in 73 countries.
Bank HSBC Indonesia will have 99 branch offices in 30 cities and the lender expects to have core capital of nearly Rp 14 trillion ($1.05 billion).
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