KB Kookmin Bank Acquires Indonesian Bank Bukopin (2020.08)

South Korea’s Kookmin Bank has acquired 67% stake in Indonesia’s mid-sized Bank Bukopin, which total investment value amount to around 400 billion won (roughly $336M USD). Though Indonesia’s banking industry is notable for its high entry barriers against foreign capital with a limit on foreign ownership of local banks at 40%, the Financial Services Authority approved Kookmin bank’s takeover of Bank Bukopin due to its recent liquidity issues stemming from effects of the coronavirus.