JAKARTA (TheInsiderStories) – Regional lender, PT Bank Jawa Barat and Banten Tbk (IDX: BJBR) will gain capital around Rp684.19 billion (US$47.19 million) via private placement program. The planned its expecting to get an approval at the shareholders meeting on Dec. 11.
In the disclosure information at the Indonesia Stock Exchange, on Wednesday (12/05), the number of new shares to be issued as much as 360.1 million shares, or equivalent to 3.71 percent of the issued and fully paid capital.
These new shares will be offered specifically to the West Java Provincial Government, Banten Provincial Government and municipal or regency governments in West Java and Banten. The price of the new shares will not be lower than Rp1,900 per share, said BJBR.
After the private placement, the government shares will increase from 75 percent to 75.9 percent. While public shares will be diluted from 25 percent to 24.1 percent.
With the additional capital, the company’s capital adequacy ratio initially rose to 18.26 percent from earlier 17.53 percent. To carry out this corporate action.
At the end of the third quarter (3Q) of 2018, the bank recorded a net profit of Rp1.3 trillion, an increase of 25.4 percent in annual basis (YoY). Net interest income grew by 4.1 percent (YoY) and fee based income grew significantly by 23.2 percent (YoY).
Total assets worth Rp114.1 trillion and the lender has disbursed Rp74.6 trillion in loans with a non-performing loan of 1.58 percent.
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