Bank Mayapada Internasional has conducted an extraordinary general meeting of shareholders and appointed a new director to strengthen the private lender’s board of directors.

The shareholders agreed to appoint Yang Chin Chang as Mayapada’s new director in charge of risk management, replacing Chang Fa Hsiang.

The other commissioners and directors remained in place, with Hariyono Tjahjarijadi still serving as the bank’s president director.

“Certainly, this [change] was done to support the company’s performance, so that we can improve our focus on risk management,” Rudi Mulyono, one of the Bank Mayapada Internasional directors, told reporters in Jakarta on Thursday.

Next year, Bank Mayapada, controlled by business tycoon Dato Sri Tahir, will focus on loans issued to corporates, small and medium enterprises (SMEs) as well as consumers sectors.

Despite Bank Indonesia increasing its seven-day reserve repo rate by 25 basis points to 6 percent on Thursday, Rudi added, Bank Mayapada still believed it could maintain business growth going forward.

He acknowledged that the lender would squeeze its net interest margin. “Bank Mayapada will boost fee-based income, among other [sources of revenue], from fees related to e-channel transactions and to sales of bancassurance products,” he said. (bbn)