Staffs of Bank Mandiri Taspen Pos - Photo by the Company

JAKARTA (TheInsiderStories) – Indonesian lender, PT Bank Mandiri Taspen (BMT) gets an investment from its holding, PT Bank Mandiri Tbk (IDX:BMRI) and PT Taspen, savings insurance for civil servant and pension funds, valued at Rp500 billion (US$34.48 million) to strengthen its services.

Based on the bank’ statement, President Director Josephus K. Tripakoso said, the injection could increase the Capital Adequacy Ratio (CAR) in the future, which was at 19.83 percent in October 2018.

Followed the injection funds, Bank Mandiri’s shares in BMT were 59.44 percent diluted to 51.05 percent, while Taspen from 40 percent increased to 48.39 percent. The remaining shares are still held by minorities, Ida Bagus Made Putra Jandhana for 0.56 percent.

The change in share composition has been approved and ratified at the Extraordinary General Meeting of Shareholders of 2018.

As of October 2018, the lender’ total assets amounted to Rp18.56 trillion or grew by around 45.8 percent compared to a year ago. The Third Party Funds reached Rp14.02 trillion or grew by 60.5 percent from 2017, which supported lending of Rp14.76 trillion, up 53.5 percent.

In the loan portfolio, BMT’ pension loans were Rp13.20 trillion, up 75.7 percent on annual basis. With this achievement, the bank’ net profit was recorded at Rp290.6 billion, or jumped 132.1 percent from the same period in 2017.

BMT post was previously named PT Bank Sinar Harapan Bali which was established on Feb. 23, 1970. This date was later designated as the birth date of Bank Sinar.

This bank was originally formed as the result of a joint venture between three companies, Bank Mandiri, Taspen and state-owned postal company PT Pos Indonesia. At the beginning of 2018, BMT Post changed its name to Bank Mandiri Taspen. This was due to 20 percent of Pos Indonesia’ shares being officially acquired by Taspen.

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