INDONESIA - BANKING - BTPN Reportedly to Acquire Bank Sahabat Purba

Theindonesiatoday.com - PT Bank Tabungan Pensiunan Nasional (BTPN), controlled by TPG Capital and Northstar Pacific, is reportedly to acquire PT Bank Sahabat Purba Danarta to convert into syariah bank, Bisnis.com reported.

"In 2012, BTPN has a plan to acquire a bank operated in Central Java. After the acquisition, the bank to be acquired will be converted into syariah bank," said Mulya Siregar, director of syariah bank at Bank Indonesia (BI).  (source)

Bisnis reported the bank to be acquired is Bank Sahabat Purba Danarta, currently controlled by TP Rahmat, former president director of PT Astra Internasional Tbk (ASII). TP Rahmat also focuses in plantation business through Tri Putra group.

BTPN booked net profit of Rp958.7 billion in the first nine months of 2011, representing a 66% jump over the same period last year. ( hans@theindonesiatoday.com)

Source :  http://www.theindonesiatoday.com/banking/btpn-reportedly-to-acquire-bank-sahabat-purba - Nov 17, 2011