Dharmala seeks new partners

Dharmala seeks new partners

JAKARTA (JP): Bank Dharmala is seeking foreign investors to
help fund its recapitalization program, the bank said on
Thursday.

"The bank has appointed Hong Kong Shanghai Bank Corporation as
its financial advisor whose task is to negotiate with prospective
investors," Dharmala president Suhanda Wiraatmadja said in a
statement.

Banks with a CAR level between 4 percent and minus 25 percent
are eligible for the government's recapitalization program.

CAR is the ratio between equity and risk-weighted assets.

In the recapitalization program, the bank's owners are
required to make available 20 percent of the recapitalization
funds needed. The government will cover the remainder through
bond issuance. (02)