PT Bank Pembangunan Daerah Sumatera Utara (Bank Sumut), which is the largest BPD outside Java, conducted an Initial Public Offering (IPO) by offering a large number of 2,934,798,300 shares to the public. This amount is equivalent to 23 percent of the company's total issued and paid-up capital after the initial public offering.
This corporate action was carried out as part of the company's strategy to strengthen business capital and development in order to support the national economy, especially in North Sumatra.
In this IPO, Bank Sumut appointed PT BRI Danareksa Sekuritas, PT RHB Sekuritas Indonesia, PT UOB Kay Hian Sekuritas, and PT Aldiracita Sekuritas as joint leads underwriters.
The company will use funds obtained from the IPO. Around 80 percent will be used for the Company's working capital to support the Company's business expansion including working capital loans, investment loans and consumption loans. Around 20 percent will be used for network expansion and information technology development to support the company's business activities, including digital services.
The roadshow and initial offering (bookbuilding) of Bank Sumut shares are scheduled for January 5-18, 2023. The effective statement from the Financial Services Authority (OJK) is expected to be obtained on January 30, 2023. After the effective statement is issued, shares are expected to be listed on the Indonesia Stock Exchange on February 7, 2023.
Plt. President Director of Bank Sumut Hadi Sucipto said the company strongly supports the revival of the national economy in line with the recovery of business activities and public consumption.
"This is a commitment from Bank Sumut to continue to support national economic growth in order to improve and recover faster from the impact of the pandemic. We will finance sectors that can become machines for economic growth so that they can accelerate the national economy, especially the North Sumatra region," said Hadi, Monday 9 January.
Data as of December 31, 2022 (before being audited) of PT Bank Sumut's Productive Credit amounted to IDR 12.2 trillion or 43.9% of total Credit/financing increased by IDR 2.3 trillion or 23.5 percent from the previous year (YoY) of IDR 9.9 trillion or 39.31 percent total Credit/financing.
Not only to large-scale business actors, but Bank Sumut also supports MSME players to get back up again through the provision of People's Business Credit (KUR) facilities. As is known, this type of credit is very much needed by small and micro business actors to be able to survive the impact of the pandemic and develop their business.
As of December 31, 2022, the outstanding distribution of North Sumatra Bank KUR reached Rp1.9 trillion (before being audited), an increase of 41.72 percent when compared to the same period in 2021 of Rp1.3 trillion. The KUR loan composition consists of Rp1,185 trillion used for working capital, and the remaining Rp750 billion for investment activities.
In terms of customer recipients, the facility has been distributed to 38,393 KUR customers, an increase of about 37.3 percent year-on-year customers.
"In the future, we will focus on continuing to provide KUR facilities in order to empower MSMEs. As is known, these business actors have been the backbone of the national economy," said Hadi
In the midst of the uncertainty of economic conditions due to the COVID-19 pandemic, Bank Sumut continues to record solid performance. Supported by a reliable team, the company managed to make a good and well-maintained performance.
At the end of the second semester of 2022, the company recorded a net profit of IDR 706 billion (before being audited), or grew 15.15 percent year on year and projected a net profit of at least IDR 800 billion in 2023.
The outstanding lending for the 2022 Fiscal Year amounted to IDR 27.85 trillion (before being audited). This number is up 10.58 percent from the previous year. From the loan distribution, the company managed to maintain credit quality with a ratio of problems at the level of 1.21 percent (NPL Net before being audited) or improving from the 2021 financial year by 1.80 percent.
The third party funds (DPK) that the company managed to raise in 2022 amounted to IDR 31.9 trillion (before being audited) or an increase of 3.01 percent YoY, where the composition of third party funds was dominated by savings and demand products of 60 percent.
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