JAKARTA (TheInsiderStories) – Deputy minister for state own enterprises (SOEs), Kartika Wirjoatmodjo, said foreign investors has a chance to invests in PT Bank Syariah Indonesia Tbk (IDX: BRIS) through Indonesia Investment Authority (INA). The investors could bough the newly state holding shares through rights issue scheme.
Recently, the ministry has merged PT Bank BRI Syariah Tbk (IDX: BRIS), PT Bank Syariah Mandiri, and PT Bank BNI Syariah as one entity. After merged, the public ownerships dropped to 4.4 percent from earlier around 18.47 percent of total shares.
Based on the capital market rule, the publicly listed firm should have minimum public share of 7.5 percent. The stepped taken by Bank Syariah Indonesia as part of the company plans to meet the regulation.
The shareholders of the lender are PT Bank Mandiri Tbk (IDX: BMRI) hold 51 percent of the bank, followed by PT Bank Negara Indonesia Tbk (IDX: BBNI) 25.0 percent, PT Bank Rakyat Indonesia Tbk (IDX: BBRI) 17.4 percent, and pension fund under the lender 2 percent, and public 4.4 percent.
The merged bank has assets of Rp214.6 trillion (US$15.32 billion) with a core capital of Rp20.4 trillion. This amount places the merged bank in the top list of the 10 largest banks in the country in terms of asset and in the world in terms of market capitalization.
In this year the Islamic banks targeting to distributes loans for micro, small, and medium enterprises (MSME) around Rp53.83 trillion. Until the third quarter of 2020, total outstanding loans by the merged banks recorded Rp36.36 trillion.
In detailed, BRISyariah distributed Rp18.7 trillion, PT Bank Syariah Mandiri lend Rp11.67 trillion, and PT Bank BNI Syariah amounting to Rp5.99 trillion. Beside MSMEs, Bank Syariah Indonesia also targets sharia bond market, both domestic and Middle East.
The new CEO of Bank Syariah Indonesia, Hery Gunardi, said that a number of plans would be carried out by the merged bank and will focus on the wholesale banking business in Islamic finance, included tapping into the potential of the global SUKUK market in the Middle East.
Before set up Bank Syariah Indonesia, the minister of SOEs, Erick Thohir has aborted the formation of state-bank holding and chooses to sharpen the focus of each lender. He accused, wether to set up a holding company, he refer to focus the bank’ businesses.
According to him, only three state-owned lenders had a clear market focus. Only Bank Negara Indonesia not have a strong business focus and choice to compete with Bank Mandiri in the corporate segment.
He hope the lender can become a source of international funding cause they have a number branches in abroad. He asserted, the needs for international bank with the Indonesian flag has the potential to increase in the future. Moreover, there are a potential for the development and expansion of corporate business in the country.
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