Bahraini Islamic lender Al Baraka Banking Group aims for 15 per cent growth in net profit this year and plans to buy a 75 per cent stake in an unlisted Indonesian bank as part of its global expansion plan.
"We are in talks with Chinese shareholders of an Indonesian bank and hope to buy close to 75 per cent stake this year," Adnan Ahmad Yousuf, Al Baraka's chief executive, told Reuters in an interview.
"Our plan is to invest around $100 million in this deal," he said, declining to name the targeted bank.
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