PT Bank Mandiri Tbk, Indonesia’s largest bank by assets, plans to acquire another mid-sized bank after it failed to buy PT Bank Tabungan Negara, CEO Budi Gunadi Sadikin said.
Bank Mandiri is also planning to set up a multi-finance company through a joint venture and expects to finalise the deal by the end of this year, he added. (Kontan)
Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Anupama Dwivedi)