June 22, 2018 / 3:05 AM / 3 months ago

Indonesia's BCA buying smaller bank, details due in 3 months -CEO

JAKARTA, June 22 (Reuters) - PT Bank Central Asia (BCA) , Indonesia’s largest lender by market value, is acquiring a smaller bank, CEO Jahja Setiaatmadja told reporters on Friday.

Official announcement and details of the deal will be released in three months, he said, adding BCA is setting aside 4.5 trillion rupiah ($319 million) for all of its subsidiaries this year, which also include funds for acquisitions.

The lender has previously said it aimed to acquire two smaller banks. ($1 = 14,105 rupiah) (Reporting by Cindy Silviana, Writing by Fransiska Nangoy; Editing by Himani Sarkar)

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