Cooperative bank overhauls management

Cooperative bank overhauls management

JAKARTA (JP): Bank Bukopin, the country's only cooperative
bank, yesterday overhauled its management after its president
resigned.

In a meeting here, the bank's shareholder promoted Indra
Kesuma, the bank's former credit director, as its new president,
replacing Muchtar Mandala, who was appointed as new president of
the publicly-listed Bank Duta.

The meeting also appointed Ustam Dinata to take Indra's former
position of credit director, while Nasrah Mawardi was assigned to
lead the bank's operations division.

Timber tycoon Mohamad (Bob) Hasan, who is also chief
commissioner of Bank Duta and Bank Umum Nasional, was reelected
as Bank Bukopin's chief commissioner.

Bank Bukopin reported a net profit of Rp 5.01 billion (US$2.25
million) last year, up by 132 percent from Rp 2.15 billion in
1993. During the first six months of this year, the bank recorded
a before-tax profit of Rp 11.35 billion.

The bank's total assets increased by 50.8 percent to Rp 1.7
trillion as of last December from Rp 1.15 trillion as of the end
of 1993. As of June 28, the bank's total assets reached Rp 1.9
trillion.

Bukopin, which emphasizes on credits for small and medium
enterprises as well as cooperatives, is 31.86 percent owned by
the Bulog Foundation, 28.13 percent by Gerakan Koperasi, 24.66
percent by the government and the rest by a number of
individuals. (rid)