Bank SBI Indonesia (BSBII), the overseas Banking subsidiary of State Bank of India in Indonesia has an SBI holding of 99.56% stake. For the purpose of Regulatory compliance of meeting minimum 1% of local shareholding requirement, BSBII has proposed to issue preference shares to PT Bank KEB Hana, Indonesia.
As part of the arrangement, State Bank of India, PT Bank KEB Hana Indonesia and Bank SBI Indonesia have signed Shareholders' Agreement on 10 September 2024, which allows Bank KEB Hana Indonesia to invest in 1% shares of Bank SBI Indonesia by way of preference shares.
PT Bank KEB Hana Indonesia is a subsidiary of South Korean financial institution, Hana Financial Group. After induction of Bank KEB Hana as minority shareholder, SBI's shareholding will be 99% in Bank SBI Indonesia.
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