Bank Surya splits stocks

JAKARTA (JP): Shareholders of th publicly-listed Bank Surya approved here yesterday a plan to cut the nominal price of the bank's shares to Rp 5,00 from Rp 1,000 (43 U.S. cent).

"We aim this stock split to improve our shares' liquidity in the capital market," said the bank's President A.K. Ariawan after attending its shareholders' extraordinary meeting.

He said that the stock split doubled the number of the bank's total shares to 200 million.

As of last month, the bank -- with a total asset of Rp 1.44 trillion -- already booked a net profit of almost Rp 31 billion.

The bank's net profit is projected to reach Rp 34 billion this year. (bnt)