The State Enterprises Ministry of Indonesia has given permission for Bank Rakyat Indonesia (BRI), a state-owned bank specializing in microfinance, to acquire Bank Agroniaga, a state-owned bank focused on the agro-business sector. Bank Agroniaga, which is currently 96-percent owned by Dana Pensiun Perkebunan, the state plantation companies’ pension fund, has indicated, however, that it is currently negotiating a possible sale with four unnamed investors, two domestic, one from China and one from the Middle East. The Ministry is now calling for the deal with BRI to be completed quickly, according to Agus Pakpahan, the deputy for agriculture, forestry, paper and printing at the Ministry.
By Christopher Maggio, Research Assistant
About
Bank Rakyat Indonesia (BRI)
Description
Bank Rakyat Indonesia (BRI) is a state-owned bank specializing in microfinance. Some its offerings include small and medium-sized enterprise (SME) loans, personal loans, car loans, housing loans, education loans and savings. As of the end of 2007, it had assets worth USD 6.45 billion, a gross loan portfolio of USD 3.47 billion and over 3 million active borrowers.
Contact
Address
Jl. Jend. Sudirman 44-46
Jakarta
Indonesia
Phone: +62 21 5751029
Fax: +62 21 2511644
Email: ivp@bri.co.id
About
Bank Agroniaga
Description
Bank Agroniaga is a state-owned bank in Indonesia that is focused on the agro-business sector, including the provision of microcredit to this sector. It has seven main branches and seven sub-branches. The bank saw a profit of IDR 8.9 billion, the equivalent of over USD 975,000 in 2009. As of September of 2009, the bank’s assets were worth an estimated IDR 2.44 trillion, the equivalent of over USD 267 million, according to Bank Rakyat Indonesia (BRI), a state-owned commercial bank.
Contact
Address
Plaza GRI HR Rasuna Said Rd. Block X2 No. 1
Jakarta, 12950
Indonesia
Phone: +62 21 5262570
Fax: +62 21 5262559
Additional Resources
Jakarta Globe article entitled ‘Ministry Wants Bank Rakyat Indonesia to Seal Deal for Bank Agro’: http://www.thejakartaglobe.com/business/ministry-wants-bank-rakyat-indonesia-to-seal-deal-for-bank-agro/366329
Trading Markets article entitled ‘BANK RAKYAT INDONESIA VALUES BANK AGRONIAGA AT UNDER US$107 MLN’: http://www.tradingmarkets.com/news/stock-alert/bkrkf_bank-rakyat-indonesia-values-bank-agroniaga-at-under-us-107-mln-835177.html
MicroCapital’s Microfinance Universe profile: Bank Rakyat Indonesia (BRI)
MicroCapital’s Microfinance Universe profile: Bank Agroniaga
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