Creador Invests in Bank Index Selindo (Asia)

Source: Asian Venture Capital Journal | Author(s): Holden Mann

Creador, a private equity firm focused on Indonesia, Malaysia, Singapore and India, has invested IDR290 billion (approximately US$24 million) for a 20 percent stake in Indonesia-based lender Bank Index Selindo. The investment will raise the bank’s core capital to IDR900 billion (approximately US$69 million). Bank Index hopes to begin providing credit card and internet banking services by next year, approval for which requires banks to have core capital of at least IDR1 trillion (approximately US$77 million).