BankPos aims for customer expansion

BankPos aims for customer expansion

JAKARTA (JP): PT Bank Pos Nusantara (BankPos), which was
officially launched here yesterday, targets to significantly
increase its customers to at least one million by 2002 from 3,000
currently registered, the bank's president Robert Leman said
yesterday.

BankPos, previously called Bank Rajawali, is 64.67 percent
owned by PT Telekomindo Primabhakti, 10 percent by state-owned
postal company PT Pos Indonesia, 10 percent by the pension fund
foundation of Pos Indonesia, 5 percent by the pension fund
foundation of state-owned PT Telkom, 2.25 percent by PT
Dhanaswara Utama and 8.08 percent by PT Telekomindo Kapital.

The bank was formerly 97 percent owned by Telekomindo
Primabhakti and 3 percent by Dhanaswara Utama. The two companies
and Telekomindo Kapital are controlled by businessman Peter
Sondakh.

According to Leman, BankPos now has Rp 535 billion total
assets, increasing from Rp 505 billion (US$57.4 million) as of
December 1996.

"The capital is now Rp 150 billion, up from Rp 100 billion at
the end of last year," he said.

The bank's profit reached Rp 7.8 billion as of last month, a
85.71 percent increase from Rp 4.2 billion at the end of 1996, he
added.

"With Pos Indonesia's participation as a shareholder, we will
soon open 57 branches nationally by the end of this year," Leman
said, adding that the bank targeted to have Rp 3.0 trillion in
assets by 2002.

He said that BankPos was ready to compete with 239 banks
currently operating throughout Indonesia. BankPos would target
small and medium enterprises and other potential customers in the
medium and low income groups, he said. (icn)