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Bank Negara Indonesia sets aside 4 trillion rupiah for biz expansion

PT Bank Negara Indonesia (Persero) Tbk set aside 4 trillion rupiah via equities and loans to expand the businesses of its subsidiaries in 2017, the Jakarta Globe reported Jan. 27, citing the bank's finance director, Rico Rizal Budidarmo.

The bank plans to inject around 1.5 trillion rupiah to 2 trillion rupiah of capital to most of its subsidiaries, including PT Bank BNI Syariah, BNI Asset Management, BNI Multifinance, PT BNI Life Insurance and BNI Securities.

Budidarmo also said the bank is considering raising money through the issuance of subordinate loans or through an IPO of Bank BNI Syariah. He did not provide further details.

He added that the lender will revamp its digital banking service in 2017 through acquisitions of fintech startup companies.

Meanwhile, Panji Irawan, treasury and international director at the bank, said the lender plans to raise up to 10 trillion rupiah through the issuance of rupiah-denominated bonds and from bilateral loans in the second quarter of 2017.

As of Jan. 27, US$1 was equivalent to 13,358 Indonesian rupiah.