TEMPO.CO, Jakarta - PT Bank J Trust Indonesia Tbk. (IDX: BCIC), formerly known as Bank Mutiara/Bank Century, is seeking to post a 28-percent credit growth this year, supported by the company's increased capital adequacy ratio (CAR).
J Trust's Corporate Secretary Adi Bintoro Soerjohoesodo wrote in a statement on January 18 that the bank received Rp4 billion of additional capital in September 2015, increasing its CAR to 18.6 percent on October the same year.
Adi added that the credit expansion will be focused on micro, small and medium enterprises.
He also stated that the bank had transferred Rp840 billion of its non-performing loan to J Trust Investments Indonesia (JTII), the sister company of J Trust. The move brought J Trust's net non-performing loan (NPL) to 2.9 percent from the previous 7.4 percent.
Adi said that the number will continue to decrease as the bank continues to carry out recovery efforts.
MAHINDA ARKYASA
Editor's Note: The earlier version of this publication incorrectly said that "Bank J Trust mulling to issue US$25 million worth of subordinated bonds by mid 2016."
This version, published on en.tempo.co on Monday, January 18, 2016, had been corrected following a written statement by J Trust's corporate secretary Adi Bintoro Soerjohoesodo to clarify that that was not the case.
What's correct is that J Trust had issued US$25 million of subordinated bonds on October 2015.
Apologies for any inconvenience we may have caused J Trust Bank.
