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BJB Conducts Due Dilligence Upon 38 BPRs
Tuesday, August 16, 2011 | Admin

JAKARTA: PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk (BJB) is now undertaking due diligence process upon 38 rural credit banks (BPRs) located in West Java and Banten. The listed lender will acquire three out of those 38 banks by October this year.

The management is still observing and improving the business performance of several people’s credit bank before making final decision on such acquisition, said President Director, Bien Subiantoro.

“BJB owns stocks in several BPRs. We hold due diligence test as a consideration to raise our stocks portion, probably to become majority shareholders. There are 38 BPR and we will acquire three of them in October,” he said yesterday.

He is optimistic to be able to acquire the other 35 BPRs by 2012, yet, in order to realize this, BJB must foster the performance of those lenders.

After the acquisition, those BPRs will be merged into BJB to obtain extensive networks.

“We will merge to create a new management. I don’t remember the names of those three BPRs. One thing for sure, BPR KS (Karya Sejatika), the largest  rural credit bank in West Java, is not included,” he said.

Bien did not recall the exact amount of such acquisition process, yet he hinted the value to be less than IDR1 trillion.

Eyeing 50 BPR

BJB in fact has planned the acquisition of BPR since early this year. Initially, the listed lender plans to take over at least 50 rural credit banks.

BJB is the only local-government-owned bank with huge market and has listed its stocks on Indonesia Stock Exchange.

The bank is now aggressively expanding beyond West Java and Banten subsequent to last year’s initial public offering.

By the second half this year, BJB eyes IDR3.40 trillion credit expansion merely to secure IDR30 trillion total credit. BJB’s credit accomplishment of IDR26.6 trillion justifies this optimism even more.

This expansion is to support the realization of 22%-27% credit growth target of this year.

According to Bien, one of strategies to bolster loan distribution is by establishing credit centers at several branch offices merely to set better focus and minimize risks.

 

Source: Nana Oktavia Musliana – Bisnis.com

 
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