JAKARTA. The management of PT Bank Central Asia Tbk (BBCA) confirmed that they are still looking for one more bank to merge with Bank Royal, which was previously acquired.
According to the bank’s Business Plan (RBB), BCA plans to acquire two banks. So far, they have only acquired one bank, PT Bank Royal Indonesia.
BCA officially announced the acquisition of Bank Royal on 16 April 2019. BCA and its subsidiary (BCA Finance) acquired all of Bank Royal shares from PT Royalindo Investa Wijaya, Leslie Soemadi, Ibrahim Soemadi, Nevin Soemadi and Ko, Sugiarto. BCA spent Rp 1.007 trillion to acquire the bank, and the transaction is not included as material transaction.
“If I am not mistaken, Bank Artos has already rejected, they have said no,” said Director of BCA Rudy Susanto, after public expose at the Indonesia Stock Exchange Building (IDX) on Wednesday (21/8/2019). “We have not discussed it,” he said.
Rudy explained that the plan to acquire two banks had been included in the RBB, so the company would continue to look for other banks.
He explained that the merged bank would focus on digital business, including distributing loans through online channel.
Source: IDN Financials | 22 August 2019