Bank Ganesha Ready Tofill The Minimum Core Capital Of IDR 3 Trillion

Illustration. (Photo: Doc. Antara)

PT Bank Ganesha Tbk (BGTG) has fulfilled its minimum core capital obligation of IDR 3 trillion set by the Financial Services Authority (OJK).

Quoted from Antara, Wednesday, January 4, the company has completed corporate actions through Capital Increase by Providing Pre-emptive Rights II (PMHMETD II) by issuing a maximum of 7.5 billion shares at a price of Rp120 per share and a target of obtaining Rp900 billion in funds.

In the corporate action which ended on December 26, 2022, all shares issued were successfully absorbed by the market, through an additional share order, so that the target of obtaining funds of Rp900 billion was met.

Meanwhile, the funds obtained from the corporate action will be used to strengthen the capital structure in the context of business development through lending, including lending with digital services.

However, if it has not been absorbed, it will be placed in liquid short-term financial instruments, such as financial instruments in Bank Indonesia (BI) and/or Government Securities (SBN).

For information, the shareholders of Bank Ganesha as of December 26, 2022, are PT Equity Development Investment Tbk at 34.777 percent, Equity Global International Limited 10.012 percent, UOB Kay Hian PTE. LTD 5.792 percent, and the public 49.419 percent.

As is known, the OJK issued Financial Services Authority Regulation No. 12/POJK.03/2020 dated March 17, 2020, concerning Commercial Bank Consolidation, in which banks are required to meet a minimum core capital of IDR 3 trillion no later than the end of 2022.