Bank Bali to expand service network<\/p>\n
JAKARTA (JP): PT Bank Bali, a private bank listed on the
\nJakarta and Surabaya stock exchanges, will expand its service
\nnetwork by establishing new branches and add to its Automated
\nTeller Machine (ATM) system.<\/p>\n
President of Bank Bali Rudy Ramli told reporters after the
\nbank's annual shareholders meeting here yesterday that the bank
\nwill open 25 new branches and 40 ATMs in various cities this
\nyear.<\/p>\n
"Currently we have 94 branches, including the head office and
\ntwo overseas branches, and 61 ATMs." Rudy said.<\/p>\n
Rudy said the establishment of new branches and the
\ninstallation of new ATMs will be financed by the bank's retained
\nearnings.<\/p>\n
Rudy said the company's after-tax profits rose by seven
\npercent from Rp 57.51 billion (US$26.66 million) in 1992 to Rp
\n61.60 billion ($28.56 million) last year.<\/p>\n
The meeting agreed on the management's proposal for a final
\ncash dividend of Rp 100 (US5 cents) per share on Aug. 1.<\/p>\n
Bank Bali has previously distributed interim dividends of Rp
\n100 per share on Feb. 18, Rudy added.<\/p>\n
The company's earnings per share (EPS) in 1993 were Rp 331
\n(U.S.15 cents).<\/p>\n
Rudy said the banks' total assets rose to Rp 4.14 trillion
\n($1.92 billion) last year from Rp 3.42 trillion ($1.59 billion)
\nin 1992.<\/p>\n
But the company's revenues dropped to Rp 508.12 billion
\n($235.57 million) last year from Rp 566.05 billion ($262.42
\nmillion) in 1992.<\/p>\n
Another Bank Bali executive, Muliadi Hendri, said the
\nconstruction of a new branch office will cost about Rp 500
\nmillion ($231,803) and the installation of an ATM will cost about
\nRp 100 million ($46,360).(02)<\/p>",
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