Rabobank buys two Indonesian banks

In a move that helps the nation consolidate and gives Rabobank a further footprint into Indonesia, the Dutch firm says it plans to buy Bank Haga and Bank Hagakita.

Netherlands-based Rabobank Group announced Thursday July 13 that it signed an agreement to buy two Indonesian banks, Bank Haga and Bank Hagakita, from individual shareholders. However, it declined to say how much it would pay for the small banks.

Bank Haga and Bank Hagakita focus on serving small and medium-sized enterprises SME in the trading, manufacturing and business services sectors. The two banks have a combined total of 1,537 employees and a network of 78 branches, sub-branches and cash offices...

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