SUBSCRIBE TO OUR FREE NEWSLETTER
PUBLISHED |

CBA targets Asia for expansion

CBA targets Asia for expansion article image
The Commonwealth Bank of Australia (CBA) has hinted at strengthening its operations in Indonesia, the Saturday Herald Sun reports. According to the reports, CBA announced a $900 million hybrid capital issue which it could use to fund acquisitions in the region. The bank currently operates in Indonesia through its PT Commonwealth subsidiary - the largest Australian-owned bank in Indonesia - with 57 branches and a number of internet-based financial service platforms. The Saturday Herald Sun said CBA chief executive Ralph Norris has on several occasions identified the Indonesian market as a target for increased investment. The bank may also be looking to boost the group’s presence in China, where it currently holds a 20 percent stake in Qilu Bank.

Tags

Leave A Comment

Spinning icon Saving your comment, please wait...
Spinning icon Saving your comment, please wait...