Bank Bira to pay dividends in August

Bank Bira to pay dividends in August

JAKARTA (JP): PT Bank Indonesia Raya (Bank Bira), a foreign
exchange bank listed on the Jakarta Stock Exchange, plans to
distribute 35.50 percent of its 1994 after-tax profit as
dividends worth Rp 80 (3.59 U.S. cents) per share.

The bank's president, Frans Limas, said yesterday after a
shareholders' meeting that the bank would also issue three bonus
shares, each with a face value of Rp 1,000, for every ten
existing shares.

He said that the bonus shares, totaling 24 million, would be
distributed on Aug. 5, together with the dividend payout.

The bank, which focuses its operations on the cities of
Jakarta, Bandung (West Java), Surabaya (East Java) and Medan
(North Sumatra), booked a 1994 profit of Rp 18.02 billion, up 395
percent from the Rp 3.64 billion recorded in 1993, Limas said.

He said the bank's total assets reached Rp 1.06 trillion as of
last December, up 84 percent from Rp 580.14 billion as of
December 1993.

The bank's loan to deposit ratio stood at 90 percent at the
end of last year and its capital adequacy ratio at 12.6 percent.

The bank has arranged a syndicated loan worth $50 million for
PT Muliakeramik Indahraya, a domestic ceramics company, with Bank
Credit Lyonnais Indonesia and Indover Bank of the Netherlands as
co-arrangers, Limas said. (32)