Finance
Shinhan Financial groups Indonesia bank, card and securities units under business holding company
Shinhan Financial Group has reorganised its governance in Indonesia by moving to a business holding company structure that groups its card and securities affiliates around its local bank. It converted Shinhan Indonesia Bank to serve as a business holding company and launched Shinhan Financial Group Indonesia. The overhaul follows an Indonesian requirement to establish financial holding companies. Shinhan also signed an agreement with Indonesia’s Sinar Mas group to cooperate in corporate and supply chain finance.
