BANKING - Indonesia Bank Kesawan says QNB to take 82 pct stake

PT Bank Kesawan , a small Indonesian lender, said on Thursday it plans to raise 730 billion rupiah ($81.72 million) in a rights issue which would lead to Qatar National Bank taking a controlling stake.

Gatot Siswoyo, Bank Kesawan’s chief executive officer, told Reuters that QNB would be the standby buyer for the rights offering and would end up with an 82 percent stake in the Indonesian lender.

“We expect to get regulator and shareholders approval by December,” Siswoyo said, adding that QNB is committed to injecting more capital after the offering so that Kesawan can expand its lending to small and medium-sized businesses.