Bank Bali to expand service network

Bank Bali to expand service network

JAKARTA (JP): PT Bank Bali, a private bank listed on the
Jakarta and Surabaya stock exchanges, will expand its service
network by establishing new branches and add to its Automated
Teller Machine (ATM) system.

President of Bank Bali Rudy Ramli told reporters after the
bank's annual shareholders meeting here yesterday that the bank
will open 25 new branches and 40 ATMs in various cities this
year.

"Currently we have 94 branches, including the head office and
two overseas branches, and 61 ATMs." Rudy said.

Rudy said the establishment of new branches and the
installation of new ATMs will be financed by the bank's retained
earnings.

Rudy said the company's after-tax profits rose by seven
percent from Rp 57.51 billion (US$26.66 million) in 1992 to Rp
61.60 billion ($28.56 million) last year.

The meeting agreed on the management's proposal for a final
cash dividend of Rp 100 (US5 cents) per share on Aug. 1.

Bank Bali has previously distributed interim dividends of Rp
100 per share on Feb. 18, Rudy added.

The company's earnings per share (EPS) in 1993 were Rp 331
(U.S.15 cents).

Rudy said the banks' total assets rose to Rp 4.14 trillion
($1.92 billion) last year from Rp 3.42 trillion ($1.59 billion)
in 1992.

But the company's revenues dropped to Rp 508.12 billion
($235.57 million) last year from Rp 566.05 billion ($262.42
million) in 1992.

Another Bank Bali executive, Muliadi Hendri, said the
construction of a new branch office will cost about Rp 500
million ($231,803) and the installation of an ATM will cost about
Rp 100 million ($46,360).(02)