Industrial Bank of Korea, the controlling shareholder of PT Bank IBK Indonesia Tbk (IDX: AGRS) has injected fresh capital to the unit worth of Rp1 trillion (US$67 million) to comply the government regulation - Photo by the Company

JAKARTA (TheInsiderStories) – Industrial Bank of Korea, the controlling shareholder of PT Bank IBK Indonesia Tbk (IDX: AGRS) has injected fresh capital to the unit worth of Rp1 trillion (US$67 million) to comply the government regulation. The director, Kim Jaemyoung, said the capital injection was carried out on Sept. 28.

Based on the company’ financial data, the core capital of Bank IBK Indonesia reached Rp1.08 trillion as of June 2020 from last year at Rp1.27 trillion. The Financial Services Authority (FSA) regulated the core capital of bank at least Rp1 trillion in this year, in 2021 Rp2 trillion, and in 2022 worth of Rp3 trillion.

To strengthened the capital, Bank IBK has released 4.72 billion new shares with at an exercise price Rp170 a share. The issuer has an opportunity to reap Rp803.32 billion. After rights issue, Industrial Bank‘ ownership will decreases from 96.06 percent to 96.02 percent, PT Dian Intan Perkasa increases to 0.77 percent from 0.74 percent, and Willy Yonathan together public shares rose from 0.27 percent to 2.76 percent.

The merged bank between PT Mitraniaga Tbk (IDX: NAGA) and PT Bank Agris Tbk will effectively operate on Sept. 5, 2019. The merger plan has got the permission from the FSA, the lender said. On August 23, Bank Agris, as the result of merger began the first day of trading.

For background, on February, 2018, Industrial Bank obtained 4.59 million shares or 87.34 per cent of Bank Agris from the seller PT Dian Intan Perkasa (owned 82.59 percent shares), Benjamin Jiavaranon has 0.28 per cent, and public 17.13 percent. The bank, which is majority owned by the South Korean Government, has also acquired 71.68 percent of Bank Mitraniaga’ shares of 1.15 billion shares by Yonathan and 10 million shares of Yeo Harry Yonantha.

After the acquisition transaction, the composition of Bank Mitraniaga’ shareholders has change. Industrial Bank controlled Bank Mitraniaga with a share ownership of 71.68 percent, PT Sarana Steel remains 9.89 percent, Kamtono Kosasih remains 5.105 percent, Yonathan 1 percent, and public is 12.32 percent.

In the first semester of 2020, Bank IBK posted a net loss Rp46.47 billion. The loss was bigger than the first semester of 2019 which reached Rp43.31 billion.

US$1: Rp14,800

Written by Editorial Staff, Email: theinsiderstories@gmail.com