Woori Bank to inject $100 mil into Indonesian subsidiary Korean lender to participate in Bank Woori Saudara's rights offering
Translated by Kim So-in 공개 2021-06-23 08:02:40
이 기사는 2021년 06월 23일 07:55 thebell 에 표출된 기사입니다.
Woori Bank will inject $100 million into its Indonesian subsidiary Bank Woori Saudara (BWS).Woori Bank’s board of directors approved the bank’s participation in BWS’s rights offering last month, industry sources said Monday.
The plan needs an approval from Indonesia’s financial watchdog Otoritas Jasa Keuangan (OJK) and BWS’ shareholders.
Woori Bank is the largest shareholder of BWS with a 79.9% stake. To complete the rights offering, the bank needs to discuss the issue with Arifin Panigoro, the second largest shareholder with a 9.6% stake, and Medco Intidinamika, the third largest shareholder with a 4.7% stake. The actual payment is expected to be made in October.
The capital hike is expected to boost the BWS’ equity capital to 680 billion won ($599 million) from 570 billion won. The Indonesian bank plans to use the proceeds to expand its local sales network and accelerate its digital finance.
In February, OJK upgraded BWS' rating to Business Activities (BUKU) III level as the lender raised its core capital requirement to 5 trillion rupiah. The BUKU III category is the second-highest bank capital classification category, following BUKU IV.
Having met the OJK’s higher capital standards, the bank plans to expand its businesses by strengthening bancassurance businesses ― selling insurance products to bank customers ― and securities prime brokerage services.
BWS is leading Woori Bank’s overseas business along with the Cambodian subsidiary. It recorded net income attributable to controlling interest of around 30 billion won last year, which accounts for around 30% of Woori Bank's total income from its overseas subsidiaries.
Woori Bank has actively injected capital into its Southeast Asian subsidiaries. Last year, it put 160 billion won into its Vietnamese subsidiary and 120 billion won into its Cambodian subsidiary. (Reporting Hyun-jung Kim)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
best clicks
최신뉴스 in 전체기사
-
- '재무개선' AJ네트웍스, 조달비용 '확' 낮췄다
- '9년만에 엑시트' 한앤코, 한온시스템 거래구조 살펴보니
- 한국타이어앤테크놀로지, 한온시스템 인수한다
- [수술대 오른 커넥트웨이브]2대주주 지분매입 나선 MBK, 주식교환 카드 꺼냈다
- [이사회 모니터]이재용 에이비프로바이오 대표, 바이오·반도체 신사업 '드라이브'
- 와이투솔루션, 주인 바뀌어도 '신약' 중심엔 美 합작사 '룩사'
- 아이티센, 부산디지털자산거래소 본격 출범
- 아이에스시, AI·데이터센터 수주 증가에 '날개'
- [이사회 모니터]서정학 IBK증권 대표, ESG위원회도 참여 '영향력 확대'
- SW클라우드 '10주년' 폴라리스오피스, “초격차 밸류업”