OCBC NISP is assessing five to 10 financing companies as acquisition targets and has prepared Rp 500 billion to Rp 1 trillion for the transaction.
OCBC NISP’s president director Parwati Surjaudaja said that most of the financing companies which were under evaluation were engaged in providing loans for car and motorcycle purchases.
He said that the acquisition which had been originally planned since last year was part of the bank’s expansion plan.
“However, if we look at the progress, [the acquisition] is unlikely to occur this year,” she said, adding that through inorganic strategies, such as acquisitions, remained “one of the bank’s expansion plans”
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