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Finance

Bank Rakyat Indonesia scores region's 'largest rights issue'

New state holding raises $6.7 bn to expand financing to ultramicro businesses

State-owned Bank Rakyat Indonesia, heavily focused on micro and small loans, sees increasing promise in serving ultramicro businesses.  (Photo by Keiichiro Asahara)

JAKARTA -- Indonesia's state-owned holding entity for ultramicro businesses, Bank Rakyat Indonesia, on Wednesday said it successfully raised 95.9 trillion rupiah ($6.71 billion) from its recent rights issue -- which the Jakarta bourse called the largest such fundraising in Southeast Asia.

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