Mar 21, 2011

Bank Saudara to launch Rp250 bio bond

PT Bank Himpunan Saudara 1906 Tbk plans to issue Rp250 billion bond this year. President of Bank Saudara farid Rahman stated the company is targeting credit growth to Rp3.68 trillion until the end of  the year with gross non performing loan ratio by 2% maximum.
In 2010, credit expansion rose 32.81% to Rp2.55 trillion from Rp1.92 trillion in 2009. Annual general meeting of shareholders, held last week, approved the dividend distribution by Rp20.8 billion or 35% of last year total net profit at Rp59.94 billion. Every holder will pocket Rp9 per share.
“The remaining Rp37.3 billion or 62% will be allocated as retained earnings and Rp1.7 billion or 3% will be allocated as reserve,” as he said, last week.
Per 2010, Bank Saudara net profit increased 68.18% from Rp35.64 billion in 2009. Third party fund rose 25.79% to Rp2.55 trillion from Rp2.02 trillion.
To increase the number of customers, DPK in 2011 is expected to up to Rp3.98 trillion. The growth, he continued, was supported by improvement on consumer credit performance amid to the opening of new branches in Java and Bali Islands last year.

Disclosure: No position at the stock mentioned above.  

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