HONG Kong fintech WeLab said on Tuesday it will buy a controlling stake in Indonesian commercial lender PT Bank Jasa Jakarta and launch a digital bank in the country - one of Asia's fastest-growing digital economies.
WeLab, backed by Allianz and billionaire Li Ka-Shing's TOM Group, said it had secured $240 million from existing and new investors to help fund the deal.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!