JAKARTA. PT Bank Tabungan Negara Tbk (BBTN) will conduct a rights issue to increase its capital.
Director of Finance, Treasury and Strategy of BTN, Nixon Napitupulu, said that the action would be carried out along with the establishment of financial holding.
"The plan is next year, and in principle, the Ministry of State-Owned Enterprises (BUMN) has agreed. But we don't know if we can get priority in the state capital investment (PMN). Although the Ministry says we will get priority when the financial holding is established, "he said in Jakarta on Tuesday (3/9).
In the blueprint, said Nixon, one of the reasons for the establishment of financial holding is related to meeting housing finance needs. Especially for the government's program of one million houses.
Nixon said that adding capital to BTN could not only be done through a rights issue. If it has been established, the financial holding can issue debt securities which can help inject funds into BTN.
SBTN still needs capital of around Rp 5 trillion-Rp 8 trillion. This is to overcome the erosion of capital that occurs in BTN each year due to credit expansion related to the subsidy housing program. (AM/AR)