Jakarta - PT Bank UOB Indonesia will purchase consumer business assets and liabilities from Citibank NA Indonesia Branch.

The signing of an asset and liability sale and purchase agreement between Bank UOB and Citibank NA Indonesia Branch on January 14, 2022 marked this step.

"The lender can realize the purchase of these assets and liabilities after obtaining approval from the regulator," said President Director of Bank UOB Hendra Gunawan, as quoted in information disclosure on Monday (17/1).

He explained that cash payments would be based on net assets and a premium of Rp1.051 trillion. The company makes this payment in cash on the closing date of the proposed transaction.

"The source of funds for this transaction comes from the company's internal funds," he said.

This transaction does not have an impact on operational activities, the financial condition of Bank OUB, and the continuity of the company's busi