Maybank today announced that its subsidiary, PT Bank Internasional Indonesia Tbk ("BII") will embark on a rights issue to raise gross proceeds of approximately Rupiah ("Rp") 1.407 trillion. The rights issue will enable BII to strengthen its balance sheet for continued investments and reinforce its capabilities to achieve long-term growth targets in the Indonesian market. Maybank is the majority shareholder with a 97.52% equity stake in BII.

Dato' Sri Abdul Wahid Omar, President and CEO of Maybank said, "As the majority shareholder, we are committed to the long-term growth of BII and definitely believe in its potential. This injection of equity capital demonstrates Maybank's full support and our unwavering commitment towards strengthening the BII brand/Maybank franchise in Indonesia. It will also provide BII with the financial ability to continue investing in its business and boost its market position."

Read the full news here.

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