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Rupiah Continues to Weaken, Central Bank to Intervene

The weakening of the rupiah is still better than the weakness of other currencies. ....

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Korean banking groups to offset Myanmar losses in Southeast Asia

Korean banking groups to offset Myanmar losses in Southeast Asia ....

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Woori Bank's Indonesian subsidiary BWS earns higher grade

Woori Bank s Indonesian subsidiary BWS earns higher grade
Posted : 2021-02-14 17:06
Bank Woori Saudara (BWS) located in Indonesia / Courtesy of Woori BankBy Anna J. Park
Woori Bank is gaining momentum in its plans to extend its business portfolio in the Indonesian market, as its Indonesian subsidiary Bank Woori Saudara (BWS) officially acquired a higher grade from the Southeast Asian country s financial watchdog. Korea-headquartered Woori Bank has held a 79.88 percent stake in BWS, following the merger between Bank Saudara and Bank Woori Indonesia in 2014.
According to the bank Sunday, Indonesia s financial watchdog Otoritas Jasa Keuangan (OJK) confirmed BWS upgrade to Business Activities (BUKU) III level late last week, as BWS raised its core capital requirement to 5.2 trillion rupiah, or about 413 billion won ($373 million), as of the end of 2020. The BUKU III category is the second-highest bank capital classification category, following BUKU IV. ....

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