BNI prepares Rp 40 billion to focus on venture capital

16 July 2019 15:07

MANADO. PT Bank Negara Indonesia (Persero) Tbk (BBNI) or BNI is preparing around Rp 450 billion to focus on venture capital and current account and saving account (CASA) collection in the second semester of 2019.

BNI CFO Anggoro Eko Cahyo said that the company is preparing Rp 450 billion to establish a venture capital firm, which is targeted for completion by the second semester this year.

"In the second semester we will likely focus on venture capital, because we need to inject [money] to Finaria (as the operator of mobile payment app LinkAja). So far there are two plans - we will either acquire a small venture capital or establish our own, but either way it has to be realised by the second semester this year," said Mr Cahyo as quoted by Bisnis Indonesia, Tuesday (16/7).

Mr Cahyo added that owning a venture capital firm is the company's priority in line with its involvement in founding PT Fintek Karya Nusantara or Finarya, which manages and operates state-owned electronic payment app LinkAja. In addition, the company will also focus on collecting CASA in the second half of the year, because competition in the field since last year has caused CASA costs to rise and affect the net interest margin.

Mr Cahyo said that currently the company's CASA composition, consisting of savings and current accounts, amounts to around 62%. Until the end of the year, the company will boost the figure to reach around 64%. (AM/MS)

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