South Korea Hana Financial buys small Indonesian bank

International Finance Corporation holds an additional 19 percent stake in PT Bank Bintang, which has total assets of 244.9 billion rupiah ($26.28 million), with the remainder owned by unidentified Indonesian investors.

Hana, with assets of $150 billion, has been seeking to expand into China, India and Vietnam, aiming to have foreign operations accounting for 15 percent of its total assets and 20 percent of revenues by 2015.

In China, the group plans to open a wholly owned unit before the year end, with a capital of 250 billion won, after it won preliminary approval from Chinese authorities earlier this year.

Shares of Hana fell 1.68 percent to 46,950 won by 0459 GMT, against the wider market's <.KS11> 1.86 percent drop.