Bank Tamara needs $87m

Bank Tamara needs $87m

JAKARTA (JP): Publicly-listed Bank Tamara needs some Rp 700
billion (US$87 million) to meet the government-mandated 4 percent
capital adequacy ratio (CAR) level, an official of the bank said
on Tuesday.

The official, who requested anonymity, said the China
Development Corporation of Taiwan, which holds 10 percent of
equity, has already pledged to contribute the remaining 20
percent of the additional funds by the March deadline.

The government has promised to finance the first 80 percent of
the recapitalization program for banks that fall into category B,
that is banks with CAR levels ranging from minus 25 to 4 percent.

The official declined to state where Bank Tamara's CAR level
currently stands.

Its total assets stood at Rp 4.8 trillion as of the end of
September.

Separately, Bank Tamara President Setijono Pudjowarsito
announced that his bank is officially placed in category B, and
is thus eligible to join the government recapitalization program.

Setijono also pointed out that Bank Tamara is one of 21
'sound' banks appointed by the government to implement its trade
financing program for exporters and importers.

The statement follows a claim by Pilar magazine that Bank
Tamara falls into Category C for banks with CAR levels below
minus 25 percent. (02)