Bank NISP gets new loan

JAKARTA (JP): Publicly listed Bank NISP has secured an US$11.5 million subordinate loan from its main shareholders to strengthen its capital, the company announced yesterday.

The bank stated the subordinate loan would improve its capital adequacy ratio to 14.84 percent of its risk weighted assets because the loan would act as working capital.

In November, the bank's deposits were worth Rp 831 billion (US$358.2 million) and its credits worth about Rp 873 billion.

The bank, which had Rp 1.1 trillion worth of assets in September, earned Rp 19.28 billion from operations in the first nine months of this year.

The bank split its shares and distributed bonus shares recently to increase the shares' market liquidity. The stock split cut the nominal share price from Rp 1,000 to Rp 500.

The bank also said last week that its main shareholders, PT Suryasono Sentosa and PT Udayawira Utama, had sold some of their 8.125 million shares to 14 foreign fund managers, increasing public ownership to 33 percent. (bnt)