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Bangkok Post
Bangkok Post
Business

KBank to buy majority stake in Indonesia’s Bank Maspion

Indonesia KBank
Customers use ATMs at a branch of Kasikornbank at Seacon Square in the Srinakarin area in Prawet district of Bangkok on Feb 23, 2022. (Photo: Somchai Poomlard)

One of the country's largest banks bought a $220 million majority stake in Indonesia's Bank Maspion on Monday.

The deal will give Kasikornbank (KBank), the kingdom's second-largest lender by assets, 67.5% of Maspion's shares and is expected to be finalised by the end of the year, the Thai lender said in a message to the Stock Exchange of Thailand.

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