bank jatim allocates 80% ipo results for expansion
Date: 22 june 2012Categories : All News
Jakarta-PT Bank Pembangunan Daerah Jawa Timur (Bank Jatim) target acquisition proceeds from IPO (Initial Public Offering) will increase the ratio of capital (Capital Adequate Ratio / CAR) company by the end of the range of 20% -21%.
Position in June 2012 our CAR, at the level of 20.99%. With the addition of IPO funds, our CAR at the end of the year the range of 21% -22%. It already takes into account the credit expansion this year, "said President Director of Bank Jatim, Hadi Sukrianto, in the company's public expose at Darmawangsa Hotel, Jakarta, Tuesday, June 19, 2012.
He said the proceeds from the IPO, about 80% will be used to finance the expansion of loan portfolio, which this year is targeted to grow 23%. While the rest of IPO funds 10% respectively for the development of the network and increase IT (information technology) company. "As of June 16, 2012 our credit grew to Rp17, 7 trillion from 2011 which amounted to Rp16, 1 trillion," said Hadi. Third party funds also grew from position 2011 of Rp20, 1 trillion to Rp23, 3 trillion by June 2012, so the LDR was recorded at 76.35% position. Profits per June 2012 was recorded Rp466 billion.
With an average annual credit growth at 23% -24% level, said Hadi, CAR position of the company in 2016 is expected to fall back to a level of 16% -17%. "This is in line with the target of our future credit outlook is more focus to SMEs by 80%, the remaining 20% of the corporation. While our core business is still cunsumer loan, but slowly our will selectively to SMEs, and the potential is very large indeed. To KUR, we bank number 4 with the distribution of Rp1, 7 trillion to 25 thousand customers, "said Hadi.
While related to network expansion, Hadi said that until the end of the year it plans to add 25 branches and 120 ATMs. As for of 25 branches, 17 of which grade of cash offices into branches, and 8 new branches. Investing for branches around Rp20 billion with an indication of a branch around Rp1 billion. "We're not going to open a branch office outside of Jawa Timur, other than in Jakarta, which is scheduled to open three new branches," said Hadi.
While for the development of IT, Hadi said the company allocates investment of Rp178 billion this year. "This is to improve our service, with good IT system, the Bank Jatim will be more close to the people of East Java," please Hadi. Hadi added that before the IPO series A shareholders have injected capital of the Company amounting to Rp 700 billion, with details of Rp280 billion by the of East Java Provincial Government, and the rest of the City / A districts of East Java.
optimistic Absorbed
In connection with the IPO procession, Hadi optimistic that the company offered shares will be absorbed well, despite global market uncertain conditions. As for the total of 2.9 billion shares first being offered, the company offers a price per share of the range Rp.430, - Rp.670, -
"From the pre-marketing process that we held some time ago, we saw there was interest from investors, so we are optimistic it will be good demand. Moreover, we also offer at a good price too. So we expect will get fresh funds as much as possible, "said Hadi without specifying a target acquisition range of the IPO proceeds.
Meanwhile, the director of Bahana Securities, Andi Sidarta on the same occasion said,it has started to offer early since June 19, 2012 and will end on June 26, 2012. With a very short time bookbulding, Director of Mandiri Securities, Iman Rachman added, it will optimize offerings to local investors. "But it is possible for a roadshow to investors. While we focus to domestic investors, "said Iman.
He was also optimistic that if the ratio between the stock market price per share divided by net income per share (price to earnings / PE ratio) of shares of the Company will be optimal. It looks at PE bank stocks in the stock market today is very good. (Darto Wiryosukarto-infobanknews.com)