JAKARTA (TheInsiderStories) – PT Bank Capital Indonesia Tbk (IDX: BACA) plans to issue a maximum of 20 billion new shares or equivalent to 73 percent of the issued and fully paid capital, it announced today. The company not specify the standby buyer for the corporate action.
The lender, formerly known as PT Bank Credit Lyonnais Indonesia, also has not revealed the implementation price of the rights issue. Its estimated that the bank can reap more than Rp5 trillion (US$344.83 million) fresh funds based on the share price until Monday (07/27) at Rp274 per unit.
The management of Bank Capital revealed, that the planned capital increase was expected to strengthen the company’s capital structure. Based on the financial statements at the end of March, 2020, the shareholders of the issuer are PT Inigo Global Capital 14.73 percent, PT Delta Indo Swakarsa 13.98 company, PT Asuransi Simas Jiwa 13.81 percent and the public 57.48 percent.
Some time ago, the news about this company was crowded, related to the placement of Bakrie Group‘ funds in the bank. A number of local mass media reported the financial reports of the bank looked strange.
The amount of third party funds was reported Rp2.68 trillion, different from the amount of deposits owned by several companies which are put in the banks, where the value is four times that the report. On of its depositor, PT Bakrie & Brothers Tbk (IDX: BNBR), a conglomeration firm owned by Bakrie family mentioned, the time deposits placed in the bank reached Rp3.76 trillion. No further details the authority’ reaction on the unfair data cases.
At present, Bank Capital has 82 operational offices in Jakarta, Tangerang, Bekasi, Bandung, Surabaya, Solo and Kupang. In 2019, the company recorded a net profit of Rp15.88 billion, or corrected from the previous year’s profit of Rp106.50 milia with total assets of Rp18.95 billion.
In the first half of 2020, the lender’ net profit began to improve to Rp51.98 billion and the total asets decreased to Rp17.50 trillion. In the same period, third party funds fell from Rp16.11 trillion in 2019 to IDR 13.66 trillion in the first half of this year. Total loans disbursed by the company in 2019 amounted to IDR9.75 trillion and up to 30 June 2020 valued at IDR11.52 trillion.
The bank was established on April 20, 1989 and then merged the company with a bank owned by Credit Lyonnais SA from France and PT Bank Internasional Indonesia Tbk (IDX: BNII) and changed its name to Bank Capital on June 5, 1999.
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