PEFINDO affirmed its “idAA+” rating of PT Bank Internasional Indonesia Tbk (BNII or the Bank) and its “idAA”
rating of the Bank’s outstanding subordinated Debt I Bank BII 2011 of
IDR1.5 trillion. At the same time, PEFINDO also assigned its “idAA+” rating to the Bank’s proposed Senior Bond I/2011 and “idAA” rating to the Bank’s proposed Subordinated Debt II/2011, both under the PUB Offering Scheme (Penawaran Umum Berkelanjutan) for a maximum amount of IDR6.0 trillion. Outlook for the corporate rating is “stable”.
The ratings reflect strong support from Maybank of Malaysia (Maybank or
the Parent), strong market position, and improving profitability
measures. However, the ratings are constrained by BNII’s moderate
capitalization and tight competition within the banking industry. (source)
BNII is a commercial bank that is engaged in general banking services
in Indonesia. In terms of asset size, BNII is the ninth largest
commercial bank in Indonesia. Currently, the Bank has 62.00% interests
in PT Wahana Ottomitra Multiartha Tbk (WOMF, rated “idA”), a motorcycle
financing company and 99.99% in PT BII Finance Center, a car financing
company. The major shareholder is Maybank, holding 97.29% of the Bank’s
shares, while the public hold 2.71%. The Bank delivers its banking
services through its 344 branches and offices (including 5 sharia
branches and 3 overseas branches) and 7,978 employees.
Rating Period: September 14, 2011 – September 1, 2012
Contact Analyst: Hotma Parulian Manalu & Titan R. Sjofjan
Contact Analyst: Hotma Parulian Manalu & Titan R. Sjofjan
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