News Snapshot:
Hong Kong fintech WeLab said on Tuesday it will buy a controlling stake in Indonesian commercial lender PT Bank Jasa Jakarta and launch a digital bank in the country - one of Asia's fastest-growing digital economies. WeLab, backed by Allianz and billionaire Li Ka-Shing's TOM Group, said it had secured US$240 million from existing and new investors to help fund the deal. A WeLab-led group has already picked up 24per cent of PT Bank Jasa Jakarta and will buy the remaining majority stake following regulatory approvals, the Hong Kong firm added. It will launch a digital bank in the second...
