JAKARTA-
Hana Financial Group of South Korea has injected Rp 150 billion (US$ 16.35 million) to PT Bank Hana Indonesia to back up business expansion program of its Indonesian subsidiary.
Hana Financial still wants to acquire more local banks to be merged with Bank Hana Indonesia to place it among the country's 20 largest lenders.
Edy Kuntardjo, president of Bank Hana Indonesia on 26 August 2008 said the capital injection in early the second quarter increased the bank capital to Rp 300 billion with the stake of the Korean parent company rising from 60.9 per cent to 70.1 per cent.
Edy said part of the fund will be used to open new branches, adding this year the bank plans to open 124 new branches.
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