BBKP Implements Capital Injection to BSB
finance

BBKP Implements Capital Injection to BSB

Bank Bukopin Tbk (BBKP) injected additional capital to its subsidiary, Bank Syariah Bukopin (BSB), worth IDR 100 billion. The additional capital is implemented through the issuance of two billion shares of Series C with a nominal value of IDR 50 per share.

Glen Glenardi, President Director of BBKP, said the capital injection in BSB is used to strengthen the capital of sharia banks in accordance with the business development plan in the next few years. “The additional capital will support business expansion plan through financing with the target market in the micro, small and medium enterprise sectors,” said Glen.

The funds will also be used for investment in information technology and BSB office network, as well as strengthening human resources. In addition, the rights issue is part of the completion of the BSB restructuring health care program in 2017 to 2020. Before the transaction, BSB has IDR 850.37 billion capital, while post transaction, it will reach IDR 950.37 billion.

Before implementing capital injection, BBKP was a controlling shareholder of BSB with 90.67 percent stake. The other shareholders were Bakrie Capital Indonesia by 2.55 percent, Mega Capital Indonesia by 2.55 percent, Jamsostek (Employment BPJS) by 2.55 percent, Mitra Usaha Sarana by 0.58, and individual shareholders by 1.1 percent.

Post transaction, BBKP’s portion will increase to 91.86 percent, as well as Bakrie Capital, Mega Capital, and Employment BPJS by 2.23 percent respectively, Mitra Usaha by 0.51 percent, and individual shareholders by 0.94 percent. (*)

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