Tolaram as the controlling shareholder of PT Bank Amar Indonesia Tbk (Amar Bank) has added shares by buying 74.4 million shares.
This made the portion of the company's shares increase from 59.49 percent to 60.03 percent.
Tolaram purchased 50 million shares of AMAR on December 5, 2022, and 24.4 million shares of AMAR on December 8, 2022.
Amar Bank President Director, Vishal Tulsian is also known to increase his holdings by buying 14.63 million additional shares in AMAR.
Director of SME, Corporate and Operational Amar Bank Eka Banyuaji purchased 4.77 million shares on December 8, 2022.
The total combined value of the share purchase is around Rp. 26.8 billion.
Navin Nahata, Managing Director of Fintech and Infrastructure Tolaram said, with the rights issue currently underway, Amar Bank will be in a strong position with core capital exceeding IDR 3 trillion by the end of 2022.
"Thus, in 2023, Amar Bank can focus on the rapid development of Tunaiku (digital loan platform), with the target of increasing assets to Rp20 to 25 trillion. This will strengthen Amar Bank's position as a leading digital bank for retail and MSMEs in Indonesia," said Navin in an official statement, Saturday, December 10.
Amar Bank President Director Vishal Tulsian said, with increasing capital, the funds were effectively carried out the company's plan to better serve MSME customers.
"This is an opportunity where we can quickly create a huge social impact by leveraging advanced technological capabilities and the deep market knowledge of our partner, Investree," he concluded.
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