Dahlan Expects BTN Acquisition to be Completed in Three Months
23 April 2014 13:34 WIB
TEMPO.CO, Jakarta - State-owned Enterprises Minister Dahlan Iskan said that Bank Mandiri’s acquisition of Bank Tabungan Negara (BTN) should be completed in three months.
"I want it to be finished in three months, but still following the procedures," he said on Tuesday, April 22, 2014.
Finance Minister Muhammad Chatib Basri said that he was still assessing the plan. "Whether it will be a merger or acquisition is still in discussion," the Minister said.
Dahlan stated that the acquisition would boost BTN's capacity to disburse loans. Specifically, the bank is expected to be able to expand its housing loan services, which have dropped as the government reduces the bank's funding.
According to Dahlan, this acquisition will also benefit Bank Mandiri as it will become bigger and able to compete with foreign banks. "Financing for big companies will no longer [have to] use foreign banks," said Dahlan.
FAIZ NASHRILLAH | MARIA YUNIAR
