Indonesian banking regulator says Sea Group's Shopee acquires Bank BKE

Indonesia's Financial Services Authority (OJK) said that Sea Group's e-commerce arm Shopee had acquired local lender Bank Kesejahteraan Ekonomi (Bank BKE) with the aim of transforming it into a digital bank. OJK official Anung Herlianto said that Shopee, Southeast Asia’s largest e-commerce platform, has yet to make an official application with the banking regulators to transform Bank BKE into a digital institution, but they are “currently preparing the infrastructure to do so.” He said.

February 19 2021, The Jakarta Post - Read 15 times

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