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Report: KEB Hana Bank to set up online bank JV in Indonesia

Hana Financial Group Inc. unit KEB Hana Bank wants to partner with an Indonesian financial technology company to set up an online-only bank joint venture in the country, The Chosun Ilbo reported, citing an industry source.

The South Korean bank is seeking a local partner to roll out mobile and online platforms linked to the retail banking operations of its Indonesian unit, PT Bank KEB Hana Indonesia, according to the report.

The Indonesian unit operates 70 branches in the Southeast Asian country, with a combined customer base of about 300,000.