Bank merger questioned

Bank merger questioned

JAKARTA (JP): Lawyer Adnan Buyung Nasution has asked the
central bank to clarify media reports that Bank Arta Pratama and
Bank Artha Graha would merge soon because the present ownership
of the former bank was still legally flawed and was being
disputed through litigation.

Nasution, who represents PT Gunung Agung, the former owner of
Bank Arta Pratama, said in a statement on Thursday that the legal
process of the bank's acquisition by the Artha Graha Group in
1997 with the central bank's approval, had yet to be completed.

He questioned the truth of the media reports on the merger
because the central bank's governor Sjahril Sabirin " told me at
a recent meeting that Bank Indonesia has not even yet received a
proposal from the two banks for a merger."