BINK videos (.bik), or rather videos compressed using the BINK codec can be converted to several other formats including the M2TS. This can be done in almost any decent multimedia converter, but keep in mind that regardless of the output format, the quality won't be better than the original.
Older BINK videos, especially from computer games, often lacked audio track that was saved in a separate audio file. In this case you would have to use some video editing tool to import the audio tracks to your video.
Updated: July 14, 2016