Bank Dinar president director Hendra Lie said at a meeting in Jakarta on Monday that the 77 percent would mostly come from the bank’s three major shareholders - Nio Yantony, Andre Mirza Hartawan and Syaiful Amir.

“Nio, Andre Hartawan and Syaiful will respectively sell 29.16 percent, 21.15 percent and 10.58 percent. The remaining 16.49 percent will come from the public,” he added.

Hendra explained that once the acquisition was completed, APRO Financial Co. Ltd would merge Bank Dinar with Bank Andara, 40 percent of which the Korean firm acquired last year.

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.

Hendra stated that there would be some rebranding after the merging of the two banks, adding that APRO had agreed to keep the employees.

Bank Dinar was established in 1990 as Bank Liman, but renamed itself in 2012 before going public in 2014. (dra/bbn)

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