BNI sets up subsidiary

JAKARTA (JP): Director General of State Enterprises Martiono Hadianto has inaugurated PT BNI Securities, a subsidiary of state-owned Bank Negara Indonesia (BNI), with an authorized capital of Rp 30 billion (US$13.6 million).

The bank's president Winarto Soemarto said at the inauguration ceremony here on Thursday evening that the securities firm, which is 100 percent owned by the bank, will help diversify the bank's financial services.

Bambang Srijanto Salamoen was appointed as president of the securities firm and Nono Purnono as chief commissioner.

The bank currently owns four subsidiaries: PT Bank Finconesia, PT BNI Multi Finance and PT BNI Nomura Jafco Investment. (04)