Salim Group Company Buy Shares In Bank Owned By Chairul Tanjung, Let Cuan Sprinkle?

Chairul Tanjung conglomerate. (Photo: Doc. Antara)

JAKARTA - A company from the Salim Group, PT Indolife Pensiontama, carried out a business maneuver by buying shares in PT Bank Mega Tbk (MEGA) through the stock exchange before the end of 2020.

Indolife Pensiontama reported the purchase of shares in the bank owned by conglomerate Chairul Tanjung to PT Kustodian Sentral Efek Indonesia for transactions on 30 December 2020 by shareholders of more than 5 percent.

Indolife managed to narrow the 422,807,744 shares of MEGA after the transaction. As a result, Indolife is now the second largest shareholder in the parent company of the CT Corp financial conglomerate.

Currently, MEGA's shareholders are PT Mega Corpora (58.01 percent), Indolife (6.08 percent), while the rest is held by the public. Indolife's actions will have a positive impact, where Bank Mega has recorded a shining performance in 2020.

Bank Mega has just reported a jump in net profit for 2020. The company managed to reap a net profit of up to IDR 3 trillion last year, aka an increase of 50.2 percent year on year (yoy).

President Director of Bank Mega Kostaman Thayib, in a public expose, Wednesday, February 17, said that the profit growth came from net interest income and commission income. Bank Mega noted that net interest income grew 9 percent to Rp3.9 trillion, and commission or fee-based income grew 26 percent to Rp2.9 trillion.

"We are targeting to get a net profit of Rp3.5 trillion by the end of the year," said Kostaman.

In fact, until November 2020, the average profit of the national banking industry was minus 31 percent.

Bank Mega also recorded credit disbursement of Rp. 48.48 trillion, a contraction of 8.54 percent from the previous year's period of Rp. 53.01 trillion. Meanwhile, Bank Mega's Third Party Funds (DPK) recorded a growth of 8.79 percent to Rp79.18 trillion from the previous Rp72.79 trillion.

Meanwhile, the ratio of Bank Mega's non-performing loans (NPL) throughout 2020 on a gross basis fell to 1.39 percent from last year's 2.46 percent.

Meanwhile, from the capital side, the company's CAR is still quite thick, namely 31.04 percent, with a loan to deposit ratio (LDR) at 60.04 percent.

This made MEGA's total assets increase to IDR112.20 trillion from IDR100.80 trillion previously. This value consists of liabilities of IDR 94.99 trillion and equity of IDR 18.20 trillion. Bank Mega's asset growth has surpassed the industry's only 7 percent position in 2020.

Kostaman also confirmed that the company will distribute dividends in a significant amount this year. That way, Indolife will certainly benefit from the achievements of Bank Mega

"With this position, the management will propose a very significant dividend distribution at the annual GMS. Very significant," he said.

For information, at the close of trading on Wednesday, February 17, MEGA's share price managed to increase by 3.39 percent from the previous day to the level of Rp9,900 per share.