CCB bids for Dutch bank's Indonesia operation
Chinese lender offers US$300 million for Rabobank assets after profit slows at home
China Construction Bank, the world's third-largest lender by market value, offered about US$300 million for Rabobank's Indonesian unit, a person with direct knowledge of the transaction said.
The Beijing-based bank submitted a non-binding offer in the first round of bidding for the assets, the person said.
Spokesmen for China Construction Bank and Rabobank declined to comment.
CCB, the nation's second-largest lender, is seeking to expand abroad after profit growth slowed last year amid China's weakest economic expansion in three years. The bank made 99 per cent of its revenue from China in 2011, according to data compiled by Bloomberg.
Utrecht, Netherlands-based Rabobank, which sold its asset management unit to Japan's Orix Corp this week for €1.94 billion (HK$19.94 billion), is shedding units to help strengthen its finances.
Rabobank was considering options for its Indonesian operation, which consist of mostly lending to small- and medium-sized enterprises, chief financial officer Bert Bruggink said. It has about 100 branches in the Asian country.
