Thursday, September 29, 2011

INDONESIA - BANKING - Mandiri Injects Sharia Unit Rp200 Billion and up to Rp 900 Billion possible

Theindonesiatoday.com - Bank Mandiri (BMRI), Indonesia's largest bank by assets, will soon injecting additional capital of Rp200 billion into its sharia business unit, PT Bank Syariah Mandiri (BSM).
Kontan.co.id reported the Rp200 billion is part of Rp900 billion capital injection asked by BSM. (source)


"We're reviewing the proposal for Rp900 billion additional capital needed by BSM. In principle, we support that. About Rp200 billion will be injected soon, hopefully within one month," said Sunarso, director of Commercial & Business Banking at Bank Mandiri, Wednesday (28/9).
Sunarso said the capital injection will be provided gradually based on key performance index (KPI) of BSM. "We also want to maintain their CAR level," he said.
As of June 2011, BSM had CAR of 11.24% and needs capital injection to support its growth target. BSM CEO Yuslam Fauzi said earlier that the bank plans to issue sub-debt sukuk to boost its CAR this year.
Bank Mandiri shares closed higher by 4.2% to Rp6,200 Wednesday. (Theindonesiatoday.com)

Source :  http://www.theindonesiatoday.com/Indonesia-Finance/Banking/mandiri-injects-sharia-unit-rp200-billion/News - Sept 28, 2011

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