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View all search resultsBank Panin Syariah taps into profit for capital boost
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A teller at Bank Panin Syariah serves a customer in Jakarta. (Kontan/Fransiskus Simbolon)
B
ank Panin Syariah has secured a plan to increase its capital by tapping into the Rp 75.37 billion (US$5.7 million) it booked in net profits last year. The shareholders approved the measure in an annual general shareholders meeting (AGM).
Bank Panin Syariah president director Deny Hendrawati said the Rp 75.37 billion would increase the lender’s capital to Rp 1.15 trillion, with a capital adequacy ratio (CAR) of 20.3 percent, or above the minimum threshold of 8 percent.
“It shows that we still have enough room to expand our business and network,” she said after the AGM in Jakarta on Tuesday.
However, she said the bank’s first quarter performance this year had not shown significant development, prompting it to review its business expansion plans for the first semester.
Last year, the bank booked pre-tax profit of Rp 75.4 billion, less than the Rp 95.7 billion it booked in 2014. The bank’s total assets stood at Rp 7.1 trillion, a 15 percent increase from the Rp 6.2 trillion recorded in 2014. (sha/ags)
