Permata may give dividend next year

Permata may give dividend next year

JAKARTA: Bank Permata, the country's seventh largest bank in
term of assets, said on Friday it might distribute dividends in
2004 as it projected an impressive performance this year.

Permata's president Agus Martowardojo said the bank was
optimistic about its capacity to pay out dividends next year in
view of the "a better than expected increase in the bank's
revenue this year.

However, the bank should first seek approval from its
shareholders of the plan.

As of the first semester of this year, Permata booked a Rp
151.4 billion (US$18.2 million) net profit, up from Rp 47.8
billion in the same period last year.

The bank has set a net profit target for this year of more
than Rp 200 billion, higher than the initial target of Rp 118
billion.

The bank is now 97.67 percent owned by the government with the
public holding the remaining 2.33 percent. The government
acquired the shares following its injection of around Rp 11
trillion-worth of recap bonds into the bank. -- JP