Government urges state-controlled banks to participate in Bank Mutiara's bidding process by Indonesian Deposit Insurance Corporation (Lembaga Penjamin Simpanan/LPS).
As known, LPS as the major shareholder (99.96 percent) in Bank Mutiara will open a bidding process for an ownership in the previously named PT Bank Century Tbk next August.
Bank Mutiara will be offered at minimum price IDR6.7 trillion, LPS Executive Head Firdaus Djaelani informed. The amount is equivalent to the bailout fund given to the bank.
Based on LPS calculation, Bank Mutiara owns IDR11 trillion asset with adquate equity and business propect.
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