Citibank eyes bank acquisition: Official

Citibank would look at opportunities to acquire banks provided these were offered at a "fair price," in addition to growing organically by establishing new branches the country, country officer Shariq Mukhtar said Tuesday, Reuters reported.

He also said Citibank, together with other banks, is holding regular discussions with the central bank, Bank Indonesia, over lifting regulations on foreign exchange transactions and the sale of certain investment products.

The foreign exchange regulations were introduced during the global financial crisis late last year to halt a slide in the rupiah currency.