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.