JAKARTA. PT Bank Rakyat Indonesia Agroniaga Tbk (AGRO) aims to gain Rp 700 billion from its rights issue in this year, to speed up the process of the bank to become a Commercial Bank Based on Business Activities (BUKU) III bank.
Agus Noorsanto, President Director of AGRO, said these plan is waiting for approval from the Ministry of State-Owned Enterprise (SOE), as the largest shareholder of AGRO’s holding company. Therefore, AGRO’s Annual General Meeting of Shareholders (GMS) on Thursday (28/3) also postponed their final decision regarding the rights issue.
“We will do this plan by this year, but we are waiting for the ministry,” Noorsanto explained.
For information, AGRO’s core capital per 2018 has reached Rp 4.3 trillion. Based on the Financial Services Authority (OJK)'s rules, a bank can become a BUKU III bank when they have at least Rp 5 trillion of core capital. So, AGRO need to increase its core capital by Rp 700 billion this year. “At least Rp 700 billion is needed to reach Rp 5 trillion,” Noorsanto stated. (KR/AR)