Indonesian state lender PT Ban Negara Indonesia (BNI, IDX:BBNI) said its sharia bank subsidiary, BNI Syariah, is ready to be sold to strategic investors. BNI Syariah is in a better position compared to other BNI's subsidiaries to be divested, BNI's finance director Yap Tjay Soen said.
BNI is considering to sell part of its shares in four subsidiaries - BNI Syariah, BNI Securities, BNI Multifinance and BNI Life. (source)
BNI already sold last month a 25 per cent stake in BNI Securities at a price of US$13.4 million to SBI Securities Co. Ltd of Japan.
Mr. Soen said the fund was used to strengthen the capital of the securities subsidiary.
BNI Syariah reported a net profit of Rp52 billion (US$6 million) in the first half of this year as against a net loss of Rp53 billion in the same period last year.
The assets of the Islamic bank rose 24.7 per cent to Rp6.62 trillion with outstanding sharia financing growing 43.34 per cent to Rp4.49 trillion in a year.
Mr. Soen said a number of prospective investors including from Middle East have indicated interest in acquiring a stake in BNI Syariah.
Source : https://research.zecco.com/research/markets/news/story.asp?key=100-220u3072-1&lastPage=Index - Aug 8, 2011
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