ID :
25896
Wed, 10/22/2008 - 08:35
Auther :
Shortlink :
http://m.oananews.org//node/25896
The shortlink copeid
BANK MANDIRI CONSIDERING AN ACQUISITION IN 2009
Jakarta, Oct 21 (ANTARA) - President Director of Bank Mandiri Agus Martowardojo said he was still considering a non-organic growth by acquisition in 2009.
"A non-organic growth will complete an acquisition of Bank Sinar Harapan Bali and Tunas Finance. In 2009, we would still study the possibility of growing in a non-organic manner," he said in Jakarta.
He also said that he is currently still finalizing the opening of more branch offices for remittances in Dubai and Malaysia.
In the meantime, with regard to Bank Mandiri's growth, he said in the third quarter the bank was still growing well.
"If there still has been no effect up to September, we will anticipate a growth in the fourth quarter as cost of fund will increase, and the quality of credits is still well maintained," he said.
Bank Mandiri has so far completed two acquisitions. The first was taking over PT Bank Sinar Harapan Bali at Rp 80 billion.
By the acquisition, Bank Mandiri controlled an 80 percent stake in the bank focused on small and medium businesses.
Secondly, the taking over of a 51 percent stake in PT Tunas Financindo Sarana (Tunas Finance) by way of a Share Sales Purchase Agreement (PPJB) signed on June 27, 2008.
Bank Mandiri recently cancelled a planned take-over of Bank Indover owned by Bank Indonesia (BI) in the Netherlands, because the bank had liquidity problems causing it to be frozen.***
"A non-organic growth will complete an acquisition of Bank Sinar Harapan Bali and Tunas Finance. In 2009, we would still study the possibility of growing in a non-organic manner," he said in Jakarta.
He also said that he is currently still finalizing the opening of more branch offices for remittances in Dubai and Malaysia.
In the meantime, with regard to Bank Mandiri's growth, he said in the third quarter the bank was still growing well.
"If there still has been no effect up to September, we will anticipate a growth in the fourth quarter as cost of fund will increase, and the quality of credits is still well maintained," he said.
Bank Mandiri has so far completed two acquisitions. The first was taking over PT Bank Sinar Harapan Bali at Rp 80 billion.
By the acquisition, Bank Mandiri controlled an 80 percent stake in the bank focused on small and medium businesses.
Secondly, the taking over of a 51 percent stake in PT Tunas Financindo Sarana (Tunas Finance) by way of a Share Sales Purchase Agreement (PPJB) signed on June 27, 2008.
Bank Mandiri recently cancelled a planned take-over of Bank Indover owned by Bank Indonesia (BI) in the Netherlands, because the bank had liquidity problems causing it to be frozen.***
