Bank Central Asia Officially Acquires Rabobank Indonesia to Expand its Islamic Banking Business

Bank Central Asia (BCA) has officially closed the deal on the acquisition of Bank Interim Indonesia, formerly known as Bank Rabobank International Indonesia (Rabobank Indonesia), from Dutch lender Coöperatieve Rabobank UA for IDR 644 billion (USD 44 million). According to local media reports, the acquisition, which was completed on the 25th of September 2020, will pave the way for BCA to expand its operations in the Islamic banking business.

Finance Director of BCA, Vera Eve Lim, stated that BCA had secured approval for capital injection and the acquisition from its shareholders and had cleared the fit and proper test from the Financial Services Authority (OJK), enabling the close of the acquisition. As such, BCA n...