PT Bank Negara Indonesia Tbk, fourth largest lender by asset, has invited a Japanese securities house dubbed SBI Securities Co Ltd to be a strategic partner in local brokerage PT BNI Securities.
The strategic partnership with SBI Securities is aimed to help expanding BNI Securities' business in the future. BNI will allow SBI Securities to put a IDR114 billion cash into BNI Securities via rights issue, entitling the Japanese brokerate with 25% shareholding.
BNI will remain a controlling shareholder in BNI Securities, since the Japanese company will own not more than 25% in Indonesia. The company will be stay majority in several subsidiaries, including BNI Life, BNI Syariah and BNI Securities.
The company chooses SBI Securities for its improved online technology to develop retail business, the area in which BNI Securities will work in the future, as he added.
SBI Securities is a subsidiary of SBI Holding Co Ltd, a stellar online trading player in Japan with advanced technology services in many financial services. SBI Securities will buy in the rights issuance soon. BNI Securities will issue new share as much as 25%, with value IDR114 billion. The proceeds will be capital for BNI Secirities in expanding business.
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