KUALA LUMPUR-
Malaysia's fourth-biggest lender RHB Capital (RHBC.KL) will pay 1.2 billion ringgit ($356.1 million) in cash for a controlling stake in Indonesia's PT Bank Mestika Dharma, joining rivals in the chase to gain a foothold in Southeast Asia's most populous country.
RHB said in a statement ahead of a press conference on Monday that it would also undertake a rights issue of 361 million shares, priced at 3.60 ringgit per share.
Malaysia's top two banks, Malayan Banking (Maybank) (MBBM.KL) and CIMB (CIMB.KL), already have a presence in the underbanked Indonesian market.
Analysts said loans growth in Indonesia's banking market, with its huge population, are expected to grow 15-25 percent this year.
Bank Mestika is based in Medan in Sumatra, Indonesia's third-most populous city after Jakarta and Surabaya.
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