Despite Earning Tens Of Billions In Profit, Bank Artha Graha Owned By Conglomerate Tomy Winata Does Not Distribute Dividends

JAKARTA - PT Bank Artha Graha Internasional Tbk in the Annual General Meeting of Shareholders (AGM), decided not to distribute dividends from net profit for the fiscal year 2020. The entire net profit of last year was used to strengthen the company's capital structure and business expansion.

The decision was contained in the summary of the minutes of the AGM which was held on Monday, August 23. For information, this bank owned by conglomerate Tomy Winata earned a net profit of IDR 21.37 billion in 2020, from previously recording a loss recorded in 2019 of IDR 58.35 billion.

"Approved that there will be no dividend distribution from net profit for the 2020 financial year and all the profits will be used to strengthen the capital structure and expand the company's business", wrote the management of Bank Artha Graha, quoted on Friday, August 27.

The meeting also accepted and approved the annual report of the company's directors for the fiscal year 2020, including the report on the company's activities and the report on the supervisory duties of the company's board of commissioners for the financial year 2020. Also received and ratified the company's financial statements for the financial year 2020 which had been audited by the accounting firm. public with an unqualified opinion.

In addition, to authorize the company's board of commissioners to appoint a public accountant to audit the company's books for the financial year ending December 31, 2021. There is no increase in salary and or honorarium and allowances for members of the company's directors and board of commissioners.

The meeting also reappointed Nicolaus Eko Riwayanto as independent commissioner and Christina Harapan as deputy president director and Indrastomo Nugroho as director. Shareholders also approved the appointment of Andy Dharma and Susana as members of the company's board of directors.