Monday, February 22, 2010

Recapital buy Bank Eksekutif at price IDR101.5 billion

Recapital Advisors has plan to take over 90% shares of PT Bank Eksekutif International Tbk. Recapital and Lunardi Widjaja family has deal to sell 79.26% shares of Bank Eksekutif with price IDR150 per shares. Lunardi Widjaja hold 676.71 million shares of Bank Eksekutif
The deal of major shares acquisition of Bank Eksekutif by Recapital was due to the commitment of investment company here to expand the company such as branch office expansion.
"We will develop Bank Eksekutif so as to be equal among the other banks," said CEO of Recapital Rosan Perkasa Roeslani adding that Recapital will increase the capital adequately to compete against the other banks.
Recapital is investment company established by Sandiaga S. Uno and Rosan. Finance performance of Bank Eksekutif kept falling. Data of BI November 2009 showed the bank suffered from IDR54.2 billion losses so the capital slashed down to IDR53 billion or far below the minimum requirement of IDR80 billion.
Following the special watch status, in December 2009 the bank was injected by IDR55 billion fund by the Lunardi Widjaja. However, the NPL of the bank per November 2009 still stood at IDR294 billion.

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