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Jakarta Post

BCA continues search for acquisitions

  • News Desk

    The Jakarta Post

Jakarta   /   Wed, May 30, 2018   /   08:15 am
BCA continues search for acquisitions People withdraw cash at BCA's automated teller machines (ATM). (Kompas/Heru Sri Kumoro)

The country’s largest private lender, Bank Central Asia (BCA), will still include in its business strategy this year plans to acquire smaller lenders after failing to find a suitable candidate last year.

“We will provide information when it is time to do so. We can’t [reveal any information] right now,” BCA corporate secretary Jan Hendra said recently as reported by kontan.co.id.

After the acquisition, BCA said it would support the acquired bank in going digital, both for its products and services. It has already prepared a variety of advanced and up-to-date digital banking services for the move, such as an application platform interface (API).

“We are a publicly listed company, so we will keep the public informed when we find a suitable candidate. Right now, we are still in the process of approaching the banks,” Jan said.

Last year, Southeast Asia’s largest lender by market value after DBS Group Holdings Ltd. set aside some Rp 4 trillion (US$285 million) to finance the acquisition of mid-sized banks. (dwa)