JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BBTN) distributes Rp 561 billion of dividends or worth 20% of the total net profit at Rp 2.8 trillion in the financial year 2018. While 80% of the remaining net profit was allocated for credit expansion and acquisition of PT Permodalan Nasional Madani Investment Management (PNMIM), a subsidiary of PT Permodalan Nasional Madani (Persero).
Nixon Napitupulu, Director Collection & Asset Management of PT Bank Tabungan Negara (Persero) Tbk (BBTN) stated that the dividend per share would be Rp 53.03. "The dividend allocation will be 20% and 80% will be kept for a reserve fund to strengthen capital," said he, in Jakarta.
According to Napitupulu, the company needs to strengthen the working capital this year. Besides that, the company will use the reserve fund for acquiring 85% stake in PNMIM. The company is waiting for the approval of the Financial Service Authority (OJK) to acquire the PNMIM. (LK/W)