PT Bank Jabar Banten Tbk confided PT Bank Pembangunan Daerah Jabar Banten Tbk (BJB) had named PT Bahana Securities and PT Trimegah Securities Tbk to underwrite its IDR2 trillion bond.
The bond would be issued early next year with various tenures. Previously, there were several securities firms competing to become the underwriter, such as Danareksa Sekuritas, Bahana Securities, and Mandiri Sekuritas.
The bank until the third quarter of 2010 recorded IDR791.3 billion in net profits, rising from IDR709.11 billion throughout 2009. Its asset until September 2010, in the meantime, reached IDR42.53 trillion, up 31.22% from IDR32.41 trillion throughout 2009.
Until September, BJB lent IDR22.38 trillion and gathered IDR33.75 trillion in third-party fund. BJB lent some of its funds to small and medium enterprises (SMEs) through the Mitra Prioritas program. Moreover, the company also participated in several loan syndications with other banks to finance infrastructure projects, such as toll road, telco, property, power plant, regional loan, and consumer loan projects.
At the moment, BJB is expanding its office networks to outside West Java and Banten to spur business growth. The company targets to own 100 branch offices, 550 supporting branch offices, and 175 cash offices by 2015. BJB share price yesterday closed at IDR1,600, up 1.27% from IDR1,580 early this week, making it have a market cap of IDR9.59 trillion
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