China Construction Bank (CCB) is to become the controlling shareholder of Indonesia's PT Bank Windu Kentjana International, resulting in a rare case of a foreign bank being allowed to hold over 40% of an Indonesian lender. Indonesian tycoon Johnny Wiraatmadja owned 61.2 percent of Bank Windu as of June, according to Thomson Reuters data. The deal will see CCB's stake rise from 20% to 50% and its holding in PT Bank Windu increased by more than 50%.
China Construction Bank (CCB) is to become the controlling shareholder of Indonesia's PT Bank Windu Kentjana International, resulting in a rare case of a foreign bank being allowed to hold over 40% of an Indonesian lender. The deal will see CCB's stake rise from 20% to 50% and its holding in PT Bank Windu increased by more than 50%.