JAKARTA - PT BPD Bank Jatim Tbk (BJTM) plans to conduct a rights issue to expand credit in toll infrastructure in East Java. However, the management has not disclosed the target budget that will be achieved from the corporate action.
Hadi Santoso, President Director of PT Bank Jatim Tbk stated that the company aims to expand the credit by conducting the corporate action. "We plan to conduct rights issue since some shareholders prefer this scheme compared to private placement," he said to idnfinancials.com.
According to him, the company's CAR was recorded at 22% that is quite strong, but to support the expansion loan disbursement, the management wants to secure additional fresh funds from the public.
He said the shareholder that will participate in the corporate action consisted of Pemkab Malang, Bojonegoro, Magelang, and all district governments in East Java. In June 2019, Bank Jatim recorded ROE at 21.30%, NIM at 6.30%, and ROA at 3.5%. (LK)