REPUBLIKA.CO.ID, JAKARTA - Minister of State Owned Enterprises, Dahlan Iskan stated that PT Bank Mandiri was ready to acquire PT Bank Tabungan Negara (BTN), a state-controlled lender focusing on home mortgage. The acquisition plan will be discussed during company's internal meeting on May 21, 2014.

"Bank Mandiri is ready as well as able to acquire BTN. The bank will be a Bank Mandiri's special subsidiary in providing housing loan," Iskan said on Thursday.

According to Iskan, the acquisition process would be conducted after the ministry of finance and the parliament give the green light. Iskan said that three reasons were behind the acquisition. First, BTN needs to increase its capacity due to high public demand on mortgage. Second, the acquisition will make BTN as the biggest bank on mortage. And the third, Bank Mandiri becomes the biggest bank in ASEAN after the acquisition, so the acquisition increase the bank's capacity to compete with foreign banks during the implementation of ASEAN Economic Community 2015. 

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