BNN joins recapitalization

JAKARTA (JP): Bank Nusa Nasional, a banking unit of the Bakrie Group, announced on Friday it was ready to join the government's recapitalization program to improve its capital base.

BNN said the majority shareholder agreed to inject fresh capital to make the bank eligible to join the recapitalization plan to boost its capital adequacy ratio -- the ratio between equity capital and assets -- to 4 percent.

The bank is under supervision of the Indonesian Bank Restructuring Agency. (rid)