TEMPO.CO, Jakarta - PT Bank J Trust Indonesia Tbk. (IDX: BCIC), formerly known as Bank Mutiara/Bank Century, is mulling to issue US$25 million worth of subordinated bonds by mid 2016.
"We are reviewing the possibility for a direct sub debt from the owners. It could be done this year or the next," President director Ahmad Fajar said in Jakarta last weekend, Bisnis Indonesia reported.
Fajar said the decision relies on how the bank's business will do this year.
"It depends; if credit expansions are well, we will issue the bonds. But the important thing is we ask for slot to the OJK first," he said.
At the end of last year, Fajar said, JTrust Bank recorded a loan portfolio worth Rp9.5 trillion. This year, the BCIC is targeting a loan growth of 31.57 percent to Rp12.5 trillion.
The 31.57 percent target is above the one set by the national banking industry. The high target, Fajar said, is based on the company's strong third-party funds and capital that can sustain credit growth.
Bank J Trust Indonesia is the rebranding of Bank Mutiara following an acquisition by Japanese finance company J Trust in 2014. J Trust took over 99 percent stake of Bank Mutiara—formerly called Bank Century—from the Deposit Insurance Corporation (LPS).
RR| BISNIS
