BTN to issue Rp 1 trillion in bonds in first half

BTN to issue Rp 1 trillion in bonds in first half

JAKARTA:Indonesia's state-owned mortgage bank PT Bank Tabungan Negara, or BTN, will issue Rp 1 trillion in bonds in the first half of the year to boost its capital base, an official with the bank said on Monday.

BTN's President Director Kodradi told reporters that Rp 250 billion of the bonds will be in subordinated debt form.

He added that the fresh funds will enable the bank to boost new loans this year to Rp 4.05 trillion from Rp 1.9 trillion last year.

Other details of the bonds were unavailable.

The bank last year booked a record high net profit of Rp 359 billion, up from Rp 121 billion in 2001. -- Dow Jones