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Publicly listed lender Bank Buana Indonesia announced Friday
it was changing its corporate name to UOB Buana.
The change was to accommodate the bank's majority shareholder, United
Overseas Bank International Investment Private Ltd. (UOBII), which is
fully owned by Singapore-based lender United Overseas Bank Ltd. (UOB).
UOBII currently owns 61.13 percent of UOB Buana, followed by PT Sari
Dasa Karsa with a 26.2 percent stake, with the remaining 12.12 percent
of shares in the hands of the investing public.
Last year, the bank, with total assets worth Rp 17.2 trillion (US$ 1.9
billion), disbursed Rp 10.3 trillion in loans. In 2007, the bank is
hoping for 10 percent growth in lending, bringing total loans to about
Rp 11 trillion.
"Currently, about 75 percent of our loans are to small and medium
enterprises," said UOB Buana's managing director, Pardi Kendy.
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