Recovery asset Bank Mutiara

PT Bank Mutiara Tbk has collect IDR1.6 trillion in asset recovery by restructuring the non performing loans.

President Director of Bank Mutiara Maryono revealed that most asset recovery came from restructuring the nonperforming letter of credit (L/C) worth IDR779.35 billion, and settling non performing loans of IDR341.4 billion.

“While the rest comes from bond issuance and foreclosed assets, which are IDR294.4 billion and IDR62.8 billion, respectively,"he said today.

Through the end of September 2010, Bank Mutiara has disbursed IDR5.65 trillion, rising 29% from IDR4.39 trillion at the same period last year.

Maryono added that loan disbursement is followed by lower non-performing loan (NPL) at 4.91% (nett), compared to 6.81% at the same period last year.

In a while, the capital adequacy ratio (CAR) reached 11.5%, rising from 10.43% from the same period last year.

Bank Mutiara is owned by the government through Deposit Insurance Agency (LPS). LPS holds 99.996% of the shares while the remaining 0.004% belongs to public.