Bank Bengkulu And Bank Sultra Capital Injection Processes, BJB 'Open Door' Synergy With Other BPDs

President Director of Bank BJB Yuddy Renaldi. (Photo: Doc. Antara/BJB)

BANDUNG - PT Bank BJB Tbk is aggressively synergizing through bank business groups (KUB) with several regional development banks (BPD) working well and healthy, such as Bank Bengkulu to boost business growth in the future.

"The development that we can convey, Bank Bengkulu is currently in the process of licensing from the Financial Services Authority for the first phase of capital deposits worth Rp. 100 billion which has been carried out and if it runs smoothly the entire process will be completed in 2023," said Bank BJB President Director Yuddy Renaldi, quoted by Antara, Tuesday, November 1.

Yuddy said related to synergy with Bank Sultra, currently Bank BJB has signed a letter of intent (LOI) at the end of September 2022 and does not rule out being able to establish synergies with other BPD-BPDs.

According to him, Bank BJB plans to take corporate action to strengthen capital, especially tier-1, both through the issuance of new shares and perpetual debt securities that can be categorized as tier-1 to offset the company's business plan.

"The various breakthroughs we have made are a manifestation of our commitment to always improve our quality and performance to strengthen our existence in the banking world," said Yuddy.

For information, until September 30, 2022, the performance of Bank BJB and its subsidiaries recorded a year on year credit growth of 12 percent to Rp113.4 trillion.

The company also managed to reduce the level of Non-performing loans at the level of 1.1 percent, better than the previous year of 1.3 percent with a solid coverage ratio at the level of 148.9 percent.

The third party funds reached Rp116.3 trillion, supported by low-cost fund growth.

With this performance, recorded total assets grew 6.9 percent year on year to IDR 170.2 trillion, profit of IDR 2.2 trillion grew 23.3 percent year on year. Meanwhile, after tax of IDR 1.8 trillion, it grew 26.2 percent year on year on year on consolidated.