Bank Woori Saudara

Bank Woori Saudara is an Indonesian commercial banking institution with historical roots in Bandung. The bank was established in 1906 by ten merchants associated with Pasar Baru, making it one of the older banking businesses identified with Indonesia's local commercial and community-finance history. It operated for many years under the Bank Saudara name, formally associated with PT Bank Himpunan Saudara 1906, Tbk, before developing a strategic relationship with Woori Bank of South Korea and adopting the Bank Woori Saudara identity. The institution's business covers core commercial-banking activities. Its documented products and services include savings accounts, checking accounts, fixed deposits, credit loans, and other banking services. These activities place the bank across both retail and corporate banking, with deposits and lending forming the central balance-sheet and customer-service functions. Its retail proposition is oriented toward individuals and everyday banking needs, while its corporate and commercial activities serve businesses requiring credit, deposits, payments, and related financial services. A major turning point came in the early 2010s, when Bank Saudara announced a plan to merge with Bank Woori Indonesia, the Indonesian subsidiary of South Korea's Woori Bank. The proposed combination was intended to connect Bank Saudara's Indonesian operating platform and local history with Woori Bank's international banking presence. The transaction required regulatory approval and involved Woori Bank acquiring a significant stake in Bank Saudara. Bank Indonesia approved the acquisition of a 27 percent stake on 30 December 2013, following an earlier approval on 16 April 2013 for an additional 6 percent. Together, the approved interests represented a 33 percent stake. The resulting brand reflects this combination of local Indonesian banking heritage and Korean financial-group affiliation. Bank Woori Saudara's market identity is therefore that of a domestically operating, full-service commercial bank supported by an international banking relationship rather than a narrowly specialized financial-services provider. Its documented scope includes deposit gathering, lending, transaction accounts, and general banking services. Publicly available reference material supplied for this entry does not establish a current executive roster, detailed branch footprint, financial performance, official website, or a complete account of the legal completion and later stages of the proposed merger. Those details remain marked as unavailable rather than inferred.

Bank Woori Saudara traces its origins to 1906, when ten merchants from Pasar Baru in Bandung, West Java, established the institution that later became known as Bank Saudara. Its early identity was rooted in local commerce and Indonesian banking, and the organization subsequently developed into a commercial bank serving a broader customer base. Before adopting the Bank Woori Saudara name, the institution operated as Bank Saudara and was associated with PT Bank Himpunan Saudara 1906, Tbk. Its documented banking activities include savings and checking accounts, fixed deposits, credit loans, and other financial services. These offerings indicate a conventional commercial-bank model spanning deposit-taking and lending, with services relevant to both individual and business customers. The bank entered a strategic transition in the early 2010s. On 14 March 2012, Bank Saudara announced a plan to merge with Bank Woori Indonesia, the Indonesian subsidiary of Woori Bank of South Korea. The proposal connected Bank Saudara's established Indonesian platform with the overseas expansion interests of Woori Bank. It also created a regulatory process involving ownership approval by Bank Indonesia. Bank Indonesia approved Woori Bank of Korea's acquisition of 27 percent of Bank Saudara's shares on 30 December 2013. The approval followed an earlier approval, dated 16 April 2013, for the acquisition of an additional 6 percent. The two approvals together represented a 33 percent interest. The transaction and proposed combination established the basis for the Woori Saudara identity and for the bank's positioning as an Indonesian institution linked to a major South Korean banking group. The available reference material does not provide a sufficiently detailed account of the bank's subsequent operating performance, branch network, product-level evolution, current ownership structure, leadership, or later corporate actions. Accordingly, this history records only the founding, legacy Bank Saudara identity, proposed merger, and documented regulatory approvals.

• 2013

  Regulatory approvals for Woori Bank share acquisitions

  [1]Bank Woori Saudaraen.wikipedia.org

  Bank Indonesia approved a 27 percent share acquisition on 30 December, following approval for a further 6 percent interest on 16 April.

• 2012

  Merger plan with Bank Woori Indonesia announced

  [1]Bank Woori Saudaraen.wikipedia.org

  Bank Saudara announced plans to merge with Bank Woori Indonesia, Woori Bank's Indonesian subsidiary.

• 1906

  Institution founded in Bandung

  [1]Bank Woori Saudaraen.wikipedia.org

  Ten merchants of Pasar Baru in Bandung, West Java, founded the institution that later became Bank Saudara and subsequently Bank Woori Saudara.

An Indonesian commercial bank combining a long-established local banking franchise with an association with Woori Bank of South Korea.

• Retail banking

  Savings accounts

  Deposit accounts for customers seeking to hold funds and conduct ordinary banking activities. The available reference identifies savings accounts as part of the bank's core product range, but does not provide details on account variants, rates, eligibility, or digital features.

• Transaction banking

  Checking accounts

  Transaction-oriented accounts included among Bank Woori Saudara's documented banking services. They support routine payment and account-management needs, although the available sources do not specify the precise account structure or customer segments.

• Deposit products

  Fixed deposits

  Fixed-term deposit products through which customers place funds for an agreed period. The reference material lists fixed deposits but does not state the available maturities, interest terms, or distribution channels.

• Lending

  Credit loans

  Credit and loan facilities forming part of the bank's commercial-banking offering. They support the institution's lending activities for retail and business customers, but the supplied sources do not identify specific loan products, industries, collateral requirements, or pricing.

• 2013

  Approval of Woori Bank share acquisitionM&A

  Background

  The proposed combination required approval from Indonesia's central bank and involved Woori Bank acquiring a significant stake in Bank Saudara.

  Action taken

  Bank Indonesia approved a 27 percent acquisition on 30 December 2013, after approving an additional 6 percent on 16 April 2013.

  Aftermath

  The approvals represented a combined 33 percent interest and supported the bank's transition toward the Bank Woori Saudara identity.

  Source

• 2012

  Plan to merge with Bank Woori IndonesiaM&A

  Background

  Bank Saudara sought to combine with Bank Woori Indonesia, the Indonesian subsidiary of South Korea's Woori Bank, as part of a strategic relationship with the international banking group.

  Action taken

  The bank publicly announced the proposed merger on 14 March 2012.

  Aftermath

  The proposal was followed by regulatory approvals for Woori Bank's acquisition of interests in Bank Saudara and underpinned the later Bank Woori Saudara identity. The supplied material does not establish the complete subsequent legal or operational timeline.

  Source

• 2013

  Bank Indonesia approves Woori Bank's 27 percent stake acquisition[1]Bank Woori Saudaraen.wikipedia.org

  M&A · Regulation

  Bank Indonesia approved Woori Bank of Korea's purchase of a 27 percent interest in Bank Saudara on 30 December 2013. The approval followed an earlier approval covering a further 6 percent interest.

• 2012

  Bank Saudara announces plan to merge with Bank Woori Indonesia[1]Bank Woori Saudaraen.wikipedia.org

  M&A

  Bank Saudara announced a plan to merge with Bank Woori Indonesia, the Indonesian subsidiary of South Korea's Woori Bank. The proposal marked a significant strategic shift toward closer integration with an international banking group.

1. 1Bank Woori Saudaraen.wikipedia.org