India’s SBI seeks $100mln bank purchases in Indonesia

The lender is choosing among three banks after it had bought one Indonesian bank in 2006.

India's top lender, State Bank of India, is looking to acquire a bank in Indonesia and has set aside more than $100 million for the purchase, the Financial Express reported on Monday, citing a senior company executive, according to a report in Reuters.

"We have shortlisted the names of two or three banks and will zero in on one of them soon. The bank has a budget of over $100 million for buying a bank in Indonesia," Pratip Chaudhuri, deputy managing director at State Bank of India, told the paper.

Reuters could not immdiately reach officials at the bank for comment. State Bank of India bought a bank in Indonesia in 2006, the report added.