BNI Infuses Capital to Subsidiaries

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PT BNI Tbk (BBNI) will allocate its proceeds of Rp 500 billion from last year’s Initial Public Offering to inject capital to its subsidiaries. The bank will prioritize PT BNI Life Insurance and PT BNI Securities, said Gatot M Suwondo, President Director of BNI. BNI allocated around five percent of its IPO proceeds of Rp 10.4 trillion for its subsidiaries’ capital, particularly BNI Securities., BNI also expects additional capital from its strategic investor, SBI Securities Co Ltd.

"We target to obtain the proceeds from the shareholder of 25 percent of BNI Securities’ shares, SBI Securities Co Ltd, in the second quarter of 2011," said Gatot, Thursday. SBI Securities is a Japanese securities company.

SBI planned to inject capital of Rp 114 billion to BNI Securities in exchange of 25 percent of BNI Securities’ new stocks in IPO for business expansion. Aside from BNI Securities and BNI Life Insurance, BNI will also infuse capital to PT Bank BNI Syariah and PT BNI Multifinance.

Gatot said that the company will focus on loan growth. The company targets 17-20 percent more loans in 2011 to Rp 159.42 trillion in 2011 from Rp 132.85 trillion YOY, with loan-to-deposit ratio of 75-80 percent.

BNI saw a 13.3 percent growth in assets to Rp 244.34 trillion in the first quarter of 2011 from Rp 215.66 trillion YOY due to a 16.6 percent growth in loan portfolio to Rp 138.65 trillion from Rp 118.86 trillion.