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
Get 20% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
