BANKING - BRI may merge banks if acquisition succeeds (Agroniaga - Bukopin)

JAKARTA: The largest bank by lending, state-owned BRI may merge its newly-acquired subsidiaries, Bank Agroniaga, and Bank Bukopin, if the planned acquisition of a majority stake in Bukopin has succeeded, president director Sofyan Basir said Thursday.

He explained the action would be necessary to comply with the BI regulation on single presence.