BNN joins recapitalization

Sat, 06 Feb 1999, 00:00 WIB | Source: JP

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)

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