This Bank Owned By Tomy Winata Is Pursuing Fulfillment Of Core Capital Of IDR 3 Trillion

Tomy Winata Conglomerate (Photo: Doc. Antara)

JAKARTA - PT Bank Artha Graha Internasional Tbk stated that the company's shareholders will be committed to fulfilling a minimum core capital of IDR 3 trillion before December 2022. This was done by the INPC-coded bank in order to fulfill the obligations of the Financial Services Authority (OJK).

As is known, the OJK required core capital for commercial banks last year to be at least IDR 1 trillion, this year IDR 2 trillion, and next year IDR 3 trillion. This is the case as stated in the OJK regulation No. 12/2020.

Bank Artha Graha Corporate Secretary, Susana explained that the strategy to fulfill this provision is that the company will issue Long Term Notes (LTN) of Subordinated Bonds (Subdebt) I Phase II of IDR 300 billion which will be conducted in the middle of this year.

"This is in accordance with the RBB or the company's Bank Business Plan which has been stated that it is projected that the issuance of Phase II Subordinated LTN I of IDR 300 billion will be carried out in the middle of 2021", said Susana, quoted from the disclosure of information on the Indonesia Stock Exchange (IDX) website, Friday, March 12.

Currently, the core capital of Bank Artha Graha is IDR 2.6 trillion as of September 30, 2020. Subordinated LTN I Phase I and II, said Susana, are used to strengthening capital to expand the company's business.

Susana said, her party's plan to meet the minimum core capital obligations had actually been submitted to the OJK in the 2021-2023 RBB. Bank Artha Graha has also included in the company's plan timetable, namely the organic capital growth.

Bank Artha Graha will also improve the percentage of operating expenses to operating income (BOPO) gradually through various efforts to increase bank revenues, and improve efficiency and control the company's operating expenses.

Next, the company will also settle foreclosed AYDA (foreclosed collateral) in 2021. Projected sales of IDR 1.2 trillion as of September 2020.

AYDA is an asset acquired by a bank, either through an auction or outside the auction based on voluntary delivery by the collateral owner or based on the power to sell outside the auction from the collateral owner in the event that the customer does not fulfill his obligations to the bank.

"The process of completing the sale of AYDA by the company is meant by marketing as well as sales in cooperation with the company's strategic partners so that the settlement of the company's AYDA runs more effectively", said Susana.

The current value of AYDA Bank Artha Graha is IDR 2.65 trillion (nett) as of 31 January 2021.