BRI would likely to acquire Bahana this year

12 October 2017 16:14

JAKARTA – Deputy of Ministry of State Owned Enterprise (SOE) Gatot Trihargo expects PT Bahana Artha Ventura to be PT Bank Rakyat Indonesia (Persero) Tbk (BBRI)’s subsidiary this year.

Ministry of SOE is speeding up the process of establishment of financial service holding which is expected to be finished next year. At the moment, government is preparing the scheme for the establishment of SOE Bank’s subsidiary.

As quoted from Kontan, BRI will buy the shares of Bahana Artha Ventura. However, there’s no further detail regarding the acquisition of Bahana’s subsidiary, but BRI has allocated the budget for the corporate action. Currently, BRI is still waiting for the ministry’s approval regarding the acquisition process.

Besides BRI, PT Bank Tabungan Negara (Persero) Tbk (BBTN) also plans to establish two subsidiaries this year. The two companies engage in financing and asset management. Based on the information, BTN targets to establish four subsidiaries for 2017 and 2018. The Bank prepares Rp 700 billion for the establishment of its subsidiaries. (LM)

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