JAKARTA (TheInsiderStories) - PT Bank Syariah Mandiri (BSM), will get capital injection from its holding company state owned lender PT PT Bank Mandiri Tbk (IDX: BMRI) worth Rp 1 triliun (US$76 million) in the second half this year.
In addition, the syariah bank also plans to issue syariah bonds worth Rp1 trillion in the fourth quarter this year. Half of the bonds proceeds will be used to refinance debts that will mature in December this year.
CEO of Bank Mandiri Kartika Wirjoatmodjo, said Bank Mandiri will inject Rp 500 billion this month and Rp 500 billion later this year. BSM’s CEO Agus Sudiarto the new capital will be used to fulfill the Basel III requirements.
He continued with the new capital injection the Capital Adequacy Ratio (CAR) of BSM will increase from around 13 percent to 14 percent.
Director for Wholesale Banking of BSM Kusman Yandi said during fast-breaking at the bank’s head office recently that the bank has been in talks with a number of potential institutional investors such as insurance companies, pension funds and others about the syariah bonds. They are all interested with the plan. The syariah bonds will have tenor of 10 months. (*)