State-owned PT Bank Tabungan Negara (BTN) Tbk (BBTN) allocates Rp700 billion for acquiring Dana Reksa Investment Manajemen and Danareksa Finance this year. The acquisition is set to run along with the holding company program for banking sector. BTN has cash and cash equivalent of Rp773.9 billion per March this year. Its assets reached Rp214.3 trillion while liability amounted Rp195.1 trillion. BTN booked net profit of Rp594.38 billion in first quarter (Q1) this year on net interest income of Rp1.99 trillion.
