JAKARTA – PT Bank OCBC NISP Tbk (NISP) allocated IDR 500 million to repurchase 436,000 shares (buyback), which equal 0.002% of its issued and paid-up capital. As of January 2022, NISP’s shares have amounted to 22,945,296,972 units. OCBC Overseas controls 85.08% of them, while the public shares the remaining 14.92% (each below 5%).
Jefry Tjahjadi, Head of Investor Relations of Bank OCBC NISP, revealed that the said corporate action would take place 18 months after the finalisation during the Extraordinary General Shareholders Meeting on April 5, 2022. “The shares buyback is intended to fund variable remuneration that will be given for the performance of the management and employees of the company in 2021,” he added in the information disclosure quoted Monday (21/2).
According to Tjahjadi, the fund resources come from the company’s internal cash. It will not disrupt the operational activities as NISP has sufficient working capital and decent cash flow.
As of December 2021, NISP recorded total assets of IDR 214.39 trillion, a net profit of IDR 2.51 trillion, and equity of 32.32 trillion. Its shares outstanding equalled IDR 22.94 trillion, with a net profit per share of IDR 109.8 each, return on assets (ROA) of 1.5% and return on equity (ROE) of 10.6%. (LK/ZH)