Perniagaan raises capital

Perniagaan raises capital

JAKARTA (JP): A new owner of Bank Perniagaan has increased the
bank's paid-in capital to Rp 266.9 billion (US$90.47 million)
from Rp 66.9 billion.

The bank said yesterday that Nirwan Dermawan Bakrie, the
bank's new investor, injected Rp 200 billion in fresh funds
earlier this month to strengthen the bank's working capital.

"After the capital injection, Nirwan Dermawan Bakrie controls
99 percent of the bank shares," the bank said.

In March this year, Nirwan through Bakrie Capital Indonesia
(BCI), a subsidiary of the Bakrie Group, bought Bank Perniagaan
for Rp 200 billion.

Bakrie Capital also bought a 70 percent stake in Elang Realty,
a company which previously owned the bank. The property company
was renamed PT Bakrie Land Development.

The bank said that besides raising its capital, Nirwan, one of
Aburizal Bakrie's younger brothers, deposited about Rp 150
billion in the bank.

Since the change in ownership, Bank Perniagaan has improved
its financial performance.

The bank's lending increased to Rp 1.44 trillion as of August
from Rp 1.08 trillion in February this year, while its net profit
increased to Rp 643 million from Rp 2 million in the same period.
(aly)