State-controlled lender PT Bank Rakyat Indonesia Tbk plans to spend 3 trillion rupiah ($243.01 million) next year to finance acquisitions and boost the capital of its units, Kontan newspaper reported citing corporate secretary Budi Satria.
The bank aims to acquire a smaller bank and a life insurance firm. It expects to secure a permit to acquire an insurance firm in the first half of 2015, for which due diligence is now underway, finance director Achmad Baiquni said.
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 12,345 rupiah) (Compiled by Jakarta Newsroom; Editing by Sunil Nair)