The mandate forms part of the bankÆs ambition to expand its presence in Indonesia and follows its recent bid for an 89% majority stake in IndonesiaÆs Bank Ekonomi. HSBC has also launched a tender offer for the remaining 11%. The acquisition, which is subject to regulatory approvals, will give it access to Bank Ekonomi's 90 branches in over 20 cities across the country.
Meanwhile, the new cash management mandate will give Indomobil Finance full visibility across its cash positions, including the ability to identify incoming payments...
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