PT Bank Central Asia completed the acquisition of the Indonesian unit of Rabobank for $28m.

PT Bank Central Asia, Indonesia’s largest private bank, completed the acquisition of the Indonesian unit of Rabobank, a Dutch multinational banking and financial services company, for $28m. President Director of BCA Jahja Setiaatmadja said the acquisition is one of the company’s business expansion strategies. The lender will merge Rabobank Indonesia with one of their subsidiaries, yet it had not yet determined the subsidiary.