2 Indonesian banks' rights issues deadline extension possible

BNI and Mandiri can have more time to submit plans within the context of the process.

State-owned lenders PT Bank Negara Indonesia and PT Bank Mandiri still have a chance to launch rights issues this year despite missing a Jan. 31 deadline to submit plans, Deputy State-Owned Enterprises Minister Muhammad Yasin said.

"In the context of the process, we still have time, so it could still be possible," he said.

BNI president director Gatot Suwondo said he had convinced the State Enterprises Ministry, the Coordinating Ministry for the Economy and the House of Representatives to approve BNI's plan for a rights issue.

View the full story in the Jakarta Globe.