BCA Eyes Bank Acquisition for Trade Finance

BCA ATMs at Menara BCA, the bank's headquarters in Jakarta. (Reuters Photo/Beawiharta)

By : Riska Rahman | on 12:25 PM April 10, 2015
Category : Business, Banking/Finance

Jakarta. Bank Central Asia, Indonesia’s third-largest lender by assets, is setting aside Rp 1.5 trillion ($116 million) this year for expanding its units and acquiring a small lender that is focused on trade finance, a top executive said.

“Trade finance is in line with BCA's core business, so we would be interested in acquiring that kind of bank,” BCA president director Jahja Setiaatmadja told reporters on Thursday.

Jahja, however, declined to elaborate on the size of the potential acquisition. Trade finance means financing operations for transactions on trading locally and overseas.

BCA will also inject capital into its units, which include car financing companies, life insurance and Islamic banking units, to expand their businesses, Jahja said.

GlobeAsia

Show More

 
MORE NEWS