State Bank of India has acquired 23 per cent more shares of Bank State Bank of India, Indonesia, (BSBII) in a recent deal with P.T. Ravindo Jaya.
In a notice to the BSE, India’s largest bank said following the acquisition, it now has 99 per cent stake in the Indonesian Bank while 1 per cent stake is held by P.T. Ravindo Jaya. SBI, however, did not disclose the acquisition price. As on March-end 2013, SBI’s Indonesian banking subsidiary had 14 branches.