NISP gets $19 million loan

NISP gets $19 million loan

JAKARTA (JP): Bank NISP, a foreign exchange bank listed on the Jakarta Stock Exchange since last October, reported yesterday that it had generated a loan of US$19 million (Rp 42.3 billion), through the issuance of medium term notes.

The bank's managing director, Pramukti Surjaudaja, said that the issuance of the notes on March 29 was arranged by Citimas Capital Indonesia, ING Bank of the Netherlands and Indover Bank, with American Express Bank participating as coarranger.

Surjaudaja said that the bank will use the loan, with a maturity of three years, to strengthen its working capital.

He said that the bank's after-tax profit surged from Rp 4.53 billion in 1993 to Rp 13.52 billion in 1994.

The bank's total assets increased to Rp 655.34 billion as of the end of 1994, from Rp 463.21 billion in 1993, while credits extended by the bank rose 42.9 percent to Rp 553.9 billion, from Rp 387.6 billion.

The bank is 39.96 percent owned by PT Suryasono Sentosa, 39.96 percent by PT Udayawira Utama, 0.08 percent by businessman Karmaka Surjaudaja and 20 percent by the investing public. (32)