Malaysia's Affin again eyeing 51% of Indonesia's Bank INA Perdana

Affin Bank is still interested in acquiring at least 51 per cent or a majority stake in Indonesia's PT Bank Ina Perdana.

"We are continuously looking to expand our operations there, aFFIN says Chairman Tan Sri Mohd Zahidi Zainuddin.

"However, we want to get a clear indication from Indonesian regulators about foreign ownership for local banks," he noted.

Affin Bank previously revisited its plan to acquire 80 per cent stake in Bank Ina Perdana but putthe plan on hold because of a report, which stated that the central bank of Indonesia wasconsidering to cap foreign ownership in its banks to less than 50 per cent.

Zahidi said if Indonesia's central bank allowed at least a 51 per cent majority shareholder stakefor foreign ownership, they will re-consider offering a new price for the 51 per cent, he said.

He added that the bank may not be interested in the acquisition if the ownership level allowed isless than 50 per cent.

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