VIVAnews - PT Bank CIMB Niaga Tbk (BNGA) is probing into acquiring motor vehicle financing companies.
The company is also preparing to form a finance corporation for a new business expansion in motorbike ownership credit.
CIMB Niaga President Director Arwin Rasyid said the company is analyzing several companies to be acquired. The acquisition is the company’s effort to support its new business inorganic growth.
“We’re studying the acquisition,” Rasyid said at the company’s press conference at Hotel Intercontinental Mid Plaza in Jakarta on Tuesday, February 16.
He also said the motor vehicle financing business would be the company’s new venture in 2010. The expansion was also conducted to enhance the financial performance of the company and achieve CIMB Niaga’s goal to be a synergized bank in the country.
Besides the acquisition, Niaga is also working on improving the performance of PT Saseka Gelora Finance, the company’s finance corporation. Saseka used to be the subsidiary of PT Bank Niaga Tbk (prior to joining the CIMB Group).
According to Rasyid, Saseka operational activities have not been effectively running. CIMB Niaga is intended to carry out a financing project in order to escalate the capital amount of the company. “The initial capital won’t be too much, as required”, he said.
He also explained that the company is also in the process of selecting a president director for the multifinance company. CIMB is expecting to form a solid board of directors for the corporation.
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Translated by: Nataya Ermanti
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