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Acquisition by foreign banks Before the launching of API in 2004, there were only three banks acquired by foreign banks in the period of 1998-2004 namely Bank Permata by Standard Chartered Bank, Bank NISP by Bank OCBC Bank from Singapore and Bank Buana Indonesia by United Overseas Bank from Singapore.
PT Bank Buana Indonesia (BBI) plans to issue sub-ordinate bond valued at Rp 500 billion in 2004 to be listed on the Surabaya Stock Exchange on April 13.
Despite the decline, the bank was second after Bank Buana Indonesia in profit.