Key Developments: Bank Negara Indonesia Persero Tbk PT (BBNI.JK)
10 Mar 2014
Rp. 15.00 (+0.31%)
Latest Key Developments (Source: Significant Developments)
Sumitomo Life Insurance Co To Buy Stake In PT Bank Negara Indonesia (Persero) Tbk's Life Insurance Unit-Reuters
Reuters reported that Sumitomo Life Insurance Co (Sumitomo Life) is in advanced talks to buy a 40% stake in the life insurance unit of PT Bank Negara Indonesia (Persero) Tbk (BNI), two sources familiar with the matter said, with one adding it could be worth around USD 400 million. The two sides are discussing conditions for exclusive talks, after a bidding process left Sumitomo Life as the sole remaining suitor, the sources said. Japanese insurers have been chasing after assets in Southeast Asia, where an emerging middle class is boosting the growth prospects for the insurance market. Representatives at Sumitomo Life and BNI declined to comment. The sources declined to be named since they were not authorized to discuss the matter publicly. Full Article
PT Bank Negara Indonesia (Persero) Tbk announced its final cash dividend of IDR 62.48 per share for fiscal year 2011. The dividend will be paid on May 30, 2012, to shareholders of record date on May 15, 2012. Full Article
State lender PT Bank Negara Indonesia's third-quarter net profit jumped 30 percent to 6.54 trillion rupiah ($577.6 million) from the same period a year earlier, boosted by growing credit expansion, said Chief Executive Gatot M. Suwondo.