Bank Universal plans Rp 3.3t in fresh loans
Bank Universal plans Rp 3.3t in fresh loans
JAKARTA (JP): Publicly listed Bank Universal plans to extend
new loans of about Rp 3.3 trillion (about US$29.33 million) this
year.
The bank said the fresh loans would raise its total
outstanding credits by 55 percent to Rp 9.3 trillion this year
from about Rp 6 trillion in 2000.
Bank Universal corporate secretary Ekoputro Adijayanto said on
Tuesday that about 70 percent of the fresh loans would be
extended to small and medium-sized businesses, and the remaining
30 percent as car loans.
"Most of the loans will go to the less risky retail market,"
he told reporters after the annual general meeting of
shareholders.
About Rp 1.5 trillion of the new loans were extended from
January to May, he said, adding that the lending expansion was
expected to help boost the bank's interest income.
The bank's profit fell by 92.6 percent to Rp 1.1 billion
during the first quarter of this year from Rp 15 billion in the
same period of last year.
According to him, the bank's nonperforming loans (NPLs)
reached 11.53 percent, while its capital adequacy ratio (CAR)
stood at 4.32 percent at the end of March.
The bank, as well as other banks, has to meet the minimum CAR
requirement of 8 percent and the maximum NPLs of 5 percent at the
end of 2001 as required by Bank Indonesia.
In the meeting, shareholders agreed to change the composition
of the supervisory and executive board.
The new supervisory board is led by Theodore Permadi Rahmat,
with four members Darry Halim, Michael Dharmawan Ruslim, Amir
Abadi Jusuf and Agresius Kadiaman, of which three of them are
newcomers.
Agresius, a new commissioner, was previously a division head
at the Indonesian Bank Restructuring Agency (IBRA). He replaces
Hendro Sentosa who will be retiring.
Darry and Amir are also new commissioners in the bank in the
newly launched independent commissioners posts.
Stephen Z. Satyahadi was named president, and Mahdi Syahbuddin
and Ongky Wanadjati Dana as vice presidents.
Hendradjaja Gunawan, Tjutjut Bramantoro, Djemi Suhendra and
Dudi Hendrakusuma Syahlani were installed as directors.
Earlier reports said Bank Universal would merge with Bank
Danamon as part of the government's consolidation of the banking
industry.
The bank, whose former majority shareholder is automotive
giant Astra International, is now under the control of IBRA
following the government's bailout program last year to save the
bank.(05)