BRI proposes 50% dividend

JAKARTA: State-controlled Bank Rakyat Indonesia (BRI) said on Wednesday that it would propose at least 50 percent of its 2003 net profit as dividend payment.

"We are going to propose a 50 percent dividend payment to our shareholders during our annual general shareholders meeting, which is scheduled for the end of May," said BRI president Rudjito.

BRI, the country's fourth-largest bank in terms of assets, said profit last year rose to Rp 2.5 trillion (US$290 million), from Rp 1.52 trillion. It predicted Rp 2.6 trillion in profit this year. -- JP