KUALA LUMPUR (Yosefardi) – Bank Negara Malaysia had, vide its letter dated 27 February 2014, stated that it has no objection for Affin Holdings Berhad to commence negotiations with the shareholders of PT Bank Panin Syariah Tbk for the proposed acquisition.
Further, Affin would be required to seek necessary approvals under the Financial Services Act 2013 in order to proceed with the Proposed Acquisition upon conclusion of the negotiation.
Affin intends to acquire up to 24% equity interest in Bank Panin Syariah, subsidiary of PT Bank Pan Indonesia Tbk.
As of September, 2013, the bank’s assets totaled Rp3.2 trillion with CAR of 19.75%. It booked net profit of Rp31.73 billion in the period.
Bank Panin Syariah targets to boost its capital to Rp1 trillion, entering into BUKU 2 category for banks ruled by the central bank, Bank Indonesia.