Tuesday, 7 October 2008

Rabobank wants to acquire more banks

Hollands’ Rabobank Group said it sees encouraging prospects in banking business in Indonesia and wants to buy more banks in the country, Asia Pulse reported.R abobank acquired two small banks - Haga Bank and Bank Hagakita - earlier this year. Hagabank, with assets of Rp4.76 trillion ($517 million) and Bank Hagakita valued at Rp1.7 trillion, were then merged into its Indonesian unit PT Rabobank International Indonesia to avoid problems with Bank Indonesia's Single Presence Policy. Rabobank will grab any opportunity to acquire more banks in the country, Antonio da Silva Costa, an official of PT Rabobank told the newspaper Investor Daily.

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