Weekly Business

BANKING
New Bank for Lippo

LIPPO Group once again is jumping into the banking business. After losing Lippo Bank that was merged by its new owner, Khazanah Holding Berhad, Malaysia, in 2008, the Lippo Group now controls PT Bank Nationalnobu (Bank Nobu). Through PT Kharisma Buana Nusantara—a company owned by tycoon Mochtar Riady—Lippo buys 60 percent of Bank Nobu shares. Lippo partners with Nio Yantony, owner of the Pikko Group.

Lippo Group

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