KB Securities to buy majority stake in Indonesia's Valbury Securities Korean brokerage firm aims to expand presence in Southeast Asian market
Translated by Kim So-in 공개 2022-01-17 07:43:32
이 기사는 2022년 01월 17일 07:41 thebell 에 표출된 기사입니다.
KB Securities’ chief executive officer Kim Seong-hyun is stepping up efforts to push for the New Southern Policy, with the Korean brokerage firm set to acquire a mid-sized Indonesian securities company.KB Securities said on Thursday that it will buy a 65% stake in Indonesia's Valbury Securities for 55 billion won ($46 million) and launch its Indonesian subsidiary in the first quarter of this year.
Founded in 2000, Valbury Securities is a mid-sized securities firm with 18 branches nationwide in Indonesia. It recorded a return on equity (ROE) of 12.1% in the third quarter of 2021.
Valbury Securities will be KB Securities’ new subsidiary in Southeast Asia in five years after it launched its Vietnamese subsidiary, KB Securities Vietnam, in 2017.
Kim has ramped up his push to expand its footprint in the Southeast Asian market. An opening ceremony for KB Securities Vietnam in Ho Chi Minh was Kim’s first official move since taking office in January 2019.
“We aim to utilize our experience of growing KB Securities Vietnam, which we acquired at the end of 2017,” said an official at KB Securities. “We aim to develop Valbury Securities to become top five securities firms in Indonesia through strong IT services and capital power.”
KB Securities Vietnam has shown a rapid growth. It recorded a net income of 8.4 billion won from January to September in 2021, which was on par with 2020’s net income of 8.5 billion won. KB Securities injected tens of billions of won into its Vietnamese subsidiary through two rounds of capital increase in December 2018 and February 2019.
The acquisition of Valbury Securities will be led by the global business and strategy division which reports directly to Kim.
KB Securities is expected to seek synergy between Valbury Securities and KB’s other affiliates that entered the country. According to KB Securities’ report in the third quarter of 2021, four affiliates have subsidiaries in Indonesia - KB Kookmin Bank, KB Insurance, KB Capital, and KB Data Systems. Collaboration with KB Kookmin Bank, which made inroads in Indonesia in 2018, is expected to be the key to the strategy.
KB Kookmin Bank entered the country four years ago by acquiring a stake in Bank Bukopin and secured management rights in the Indonesian bank in 2020. Bank KB Bukopin raised hundreds of billions of won through capital increase, with an aim to turn profitable within two to three years.
KB Securities also plans put Valbury Asset Management, a subsidiary of Valbury Securities, under its new Indonesian entity, although it may hand over Valbury Asset Management to its affiliate KB Asset Management later. (Reporting by Ji-hye Lee)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
- 신남방정책 강화 KB증권, 인도네시아 'pick'했다
- Korean banks interested in some of Citi's Southeast Asian operations
- KB Kookmin Bank partners with Lloyds Banking Group for IB business
- IBK sells part of its stake in Bank IBK Indonesia
- Woori Bank to inject $100 mil into Indonesian subsidiary
- IBK reports dismal earnings in Southeast Asia
best clicks
최신뉴스 in 전체기사
-
- '재무개선' AJ네트웍스, 조달비용 '확' 낮췄다
- '9년만에 엑시트' 한앤코, 한온시스템 거래구조 살펴보니
- 한국타이어앤테크놀로지, 한온시스템 인수한다
- [수술대 오른 커넥트웨이브]2대주주 지분매입 나선 MBK, 주식교환 카드 꺼냈다
- [이사회 모니터]이재용 에이비프로바이오 대표, 바이오·반도체 신사업 '드라이브'
- 와이투솔루션, 주인 바뀌어도 '신약' 중심엔 美 합작사 '룩사'
- 아이티센, 부산디지털자산거래소 본격 출범
- 아이에스시, AI·데이터센터 수주 증가에 '날개'
- [이사회 모니터]서정학 IBK증권 대표, ESG위원회도 참여 '영향력 확대'
- SW클라우드 '10주년' 폴라리스오피스, “초격차 밸류업”