Bank Negara Indonesia seeks acquisition

Jakarta

PT Bank Negara Indonesia (BNI), the nation's fourth-largest lender, plans to buy a mid-sized institution in a bid to move up the rankings and become one of the top three banks in the country by asset size.

The planned purchase would be "a win-win game" for both BNI and the banking system as a whole, said president commissioner Rizal Ramli. Indonesia needs to consolidate its banks and grow their capital base ahead of the imposition of new standards by the Basel Committee on Banking Supervision, Mr Ramli said in an interview on Tuesday in Singapore.