Indonesian lender BRI Agro sets aside $70m to acquire two smaller banks

Indonesian lender BRI Agro sets aside $70m to acquire two smaller banks

Photo: REUTERS/Garry Lotulung

Publicly listed lender BRI Agro announced that it has set aside Rp 1 trillion ($70 million) to acquire two unnamed small banks as part of a strategy to accelerate its growth, Kontan reports.

“There are candidates that we are targeting. At the moment, we are racing against other banks. The target is buku I or buku II banks,” said BRI Agro executive director Agus Noorsanto in a public expose event on Wednesday.

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