PT Bank Rakyat Indonesia Tbk (BRI) prepare on the IDR2 trillion subdebt issuance in quarter III or IV this year.
The subdebt issuance could increase the capital to maintain capital adequacy ratio (CAR) above 12 percent. The BRI CAR currently is on the level of 14 percent backed up by the growing tier II capital as of the 2009 subdebt issuance.
The company annnounce acquisition process of PT Bank Agroniaga Tbk is expected to finalize before quarter III/2010. The company still negotiates the acquisition of Bank Agro including the bank stock price. BRI targeted have 75 percent shares of Bank Agro.
After the final acquisition process, Bank Agro will focus on agriculture retail business with credit channeling up to IDR5 billion at maximum. The acquisition is expected to boost up BRI agriculture segment.
In 2009, BRI profit grew 22.66 percent into IDR7.31 trillion as from IDR5.96 trillion. BRI credit also grew 27.61 percent into IDR205.52 trillion in 2009 as from 2008 worth IR161.06 trillion and the loan to deposit ratio (LDR) stood at 80.88 percent.
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