PT Bank Tabungan Pensiunan Nasional Tbk plans to raise IDR2.25 trilion additional from capital market. The bank has reportedly notified the Capital Market Supervisory Agency (Bapepam-LK) about the rights issue plan and may increase to size from IDR1trilion to IDR3 trilion.
BTPN also issue subordinated bonds at value IDR1 trilion.
The bank may count the subordinated debt as tier 2 capital. Tier 2 capital is a measure of a bank's financial strength with regard to the second most reliable form of financial capital.
Established in 1958, BTPN is a medium-size public bank focusing on Indonesia's pension market. In March 2008, Texas Pacific Group acquired a 72% stake from a number of local investors. From late 2008, the bank has been an active micro financing player.
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