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Jakarta, Indonesia, January 11, 2012—
IFC, a member of the World Bank Group, has increased its equity investment in PT Bank Hana to help expand banking products and services for small and medium enterprises that would allow them to grow and contribute more to Indonesia’s economic development.
Small and medium enterprises are the backbone of Indonesia’s economy, but only 30 percent of these businesses have access to financing to scale up their operations and create jobs. IFC’s new $12.5 million investment in PT Bank Hana will support the bank’s expansion in this market to improve access to capital.
“One of our focus areas in Indonesia is to build the capacity of banks to better serve micro, small, and medium enterprises and low-income households,” said Rachel Robbins, IFC Vice President and General Counsel. “Our increased equity investment in PT Bank Hana reaffirms our commitment to expand access to financial services to this important sector and to support our long-term partner to grow.”
PT Bank Hana plans to open 50 new branches in Indonesia by 2015. It has doubled its capital to $110 million (one trillion Indonesian rupiah) through a rights issue. By subscribing to the rights issue, IFC maintains a 19.9 percent stake in the bank.
“We are focused on supporting our major clients – small and medium enterprises – with tailor-made products and services that would enable them and our company to grow together,” said Choi Chang Sik, CEO of PT Bank Hana. “Our partnership with IFC underscores our long-term support to this sector.”
PT Bank Hana is majority owned by Hana Bank Korea, a subsidiary of IFC investee company, Hana Financial Group. In December 2007, IFC and Hana Bank Korea established a strategic alliance and acquired a small local bank, PT Bank Bintang Manunggal, which became PT Bank Hana Indonesia.
IFC in Indonesia has been at the forefront of providing investment and advisory services to financial institutions to better serve micro, small, and medium enterprises and low-income households and fight poverty.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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About PT Bank Hana
PT Bank Hana is subsidiary of Hana Bank, one of the biggest banks in the Republic of Korea. PT Bank Hana opened for business on December 2007 with an SME-focused strategy and has achieved continuous and robust growth over the past four years. It operates 21 branches in Java including Jakarta, Tangerang, Bekasi, Bandung, Bogor Cilegon, Salatiga, and Surabaya. PT Bank Hana’s corporate value focuses on putting customers' satisfaction first and sharing a vision for success with its customers. For more information, visit
www.hanabank.co.id
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