Pursuing Free Float Target, Bank JTrust Performs Right Issue In Quarter II-2025

Planning & Performance Div Head JTrust Bank Rudyanto Gunawan (left). (Photo: Maria Trisnawati / VOI)

JAKARTA - PT Bank JTrust Indonesia Tbk (BCIC) revealed its plan to take corporate action in the form of issuing new shares with Rights Issue in 2025.

Planning & Performance Div Head JTrust Bank Rudyanto Gunawan said this corporate action was carried out to fulfill free float obligations and strengthen company capital.

Meanwhile, the composition of JTrust's shares owned by the public is recorded at 5.23 percent or still below the 7.5 percent free float obligation set by the Indonesia Stock Exchange (IDX).

"But we are trying to get there. Next year we will have a right issue, hopefully this free float obligation can be fulfilled," he said in a Public Expose, Wednesday, December 11.

Meanwhile, JTrust's Director of Finance and Planning, Helmi A. Hidayat, targets that this free float obligation will be fulfilled at the end of the first semester of 2025. Currently, he admits that his party is still waiting for the year-end audit and will use the right issue scheme.

"As long as the price is suitable, it may be fulfilled in the first semester of 2025 but there will be no sales from the old shareholders," he said.

When viewed from the company's performance, the company was able to maintain a positive performance by recording a net profit of IDR 161.22 billion in the Third Quarter Financial Report in 2024.

The catalyst for the increase in performance was triggered by gross credit growth to Rp28.13 trillion from the previous Rp23.60 trillion or grew 19.22 percent YoY (Year-on-Year).

Meanwhile, third party funds (DPK) also seemed to increase to Rp34.18 trillion from Rp29.73 trillion or 14.95 percent yoy in the third quarter of 2024 compared to the third quarter of 2023.