Bank NISP to acquire two companies<\/p>\n
JAKARTA (JP): Publicly listed Bank NISP plans to acquire a
\nsecurities and a finance company this year, besides opening 20
\nnew branches, as part of its expansion program.<\/p>\n
The Rp 30 billion (US$3.53 million) acquisition will be funded
\ninternally, head of corporate communications Andyani Pusparini
\nsaid on Friday.<\/p>\n
\"We are in the process of negotiations with two security
\ncompanies,\" she said.<\/p>\n
She declined to disclose the names of the companies.<\/p>\n
Earlier this year, the bank opened four new branches in
\nJakarta, Surabaya and Solo, adding to the 64 existing branches in
\nWest Java, Jakarta, Central Java, East Java, Batam and Bali.
\nSixteen more will be opened this year in Jakarta, Bekasi,
\nTangerang, Surabaya, Medan and Denpasar.<\/p>\n
The bank, with assets worth Rp 4.39 trillion ($516 million) at
\nthe end of April, is one of the few in the industry to survive
\nthe financial crisis of 1997-1999 without a government bailout.<\/p>\n
Its capital adequacy ratio of 12.33 percent at the end of
\nApril is well above the industry average and the 4 percent
\nmandated by the government.<\/p>\n
Bank NISP president Pramukti Surjaudaja said the bank hoped to
\nincrease its loans to Rp 2.4 trillion this year from Rp 1.27
\ntrillion.<\/p>\n
The bank is well within this target, with loans already
\nreaching Rp 1.91 trillion at the end of April.<\/p>\n
Pramukti said total third party funds were expected to
\nincrease to Rp 3.5 trillion at the end of 2000, from Rp 2.74
\ntrillion. At the end of April, the sum had already reached Rp 3.1
\ntrillion.<\/p>\n
Bank NISP reported a net profit of Rp 7.95 billion in the
\nfirst quarter of 2000, up from Rp 5.9 billion in the same period
\na year earlier.<\/p>\n
As of April 30, the bank reported a net profit of Rp 14.6
\nbillion. There was no explanation for the sudden jump in the
\nprofit.<\/p>\n
On Thursday, NISP received the Asian Banking Award 2000 on
\nRisk Management Program in Kuala Lumpur.<\/p>\n
On Thursday, NISP received the Asian Banking 2000 Award on
\nRisk Management Programs, in Kuala Lumpur.<\/p>\n
\"The award will increase our customers' trust. It will be a
\nchallenge for us to maintain it and will whip us into better
\nshape,\" Pramukti said on Friday.<\/p>\n
NISP was established in Bandung, West Java, in 1941 under the
\nname of N.V. Nederlandsch Indische Spaar en Depositobank. It is
\nowned by PT Suryasono Sentosa (38.51 percent), PT Udayawira Utama
\n(38.51 percent) and by the public (22.98 percent). (10)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bank-nisp-to-acquire-two-companies-1447893297",
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"sponsor": "Okusi Associates",
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