South Korea’s Woori Bank bought 7.64 million shares or a 33 percent stake in PT Bank Himpunan Saudara 1906 at 933 rupiah per share from oil and gas tycoon Arifin Panigoro and PT Medco Intidinamika, said Bank Saudara CEO Yanto M. Purbo.
Bank Saudara posted a net profit of 97.43 billion rupiah in the third quarter of 2013, up 11.5 percent from a year earlier. Profit was driven by interest income of 387.02 billion rupiah, which rose 31 percent over the same period in 2012, the Kontan reported.
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$1 = 12190 rupiah Compiled by Jakarta Newsroom; Editing by Prateek Chatterjee