News
10 March 2010
PermataBank Increases Tier-2 Capital by IDR 700 Bn
Category: Corporate
JAKARTA – PT Bank Permata Tbk (“PermataBank”) today announced that it has completed a ten-year unsecured subordinated Medium Term Notes (MTN) issuance for IDR 700 billion to fund future business expansion.
With coupon at 275 bps over the 3-month Indonesian SBI, the issuance is priced at par. All notes were purchased by strategic shareholder Standard Chartered Bank.
David Fletcher, PermataBank President Director, remarked: “This issuance further strengthens Permata’s balance sheet and gives us even greater flexibility to take advantage of growth opportunities in the Indonesian banking market as they emerge.
Through the issuance, PermataBank addresses the shift in expectations towards higher capital levels and Permata maintains an even higher level of capital relative to risk weighted assets.
If carried out at the end of 2009, when Permata’s Capital Adequacy Ratio was reported at 12.2% (after market risk charges) it would have added 140bps to the CAR. This significantly exceeds Bank Indonesia’s minimum requirement of 8%.
With coupon at 275 bps over the 3-month Indonesian SBI, the issuance is priced at par. All notes were purchased by strategic shareholder Standard Chartered Bank.
David Fletcher, PermataBank President Director, remarked: “This issuance further strengthens Permata’s balance sheet and gives us even greater flexibility to take advantage of growth opportunities in the Indonesian banking market as they emerge.
Through the issuance, PermataBank addresses the shift in expectations towards higher capital levels and Permata maintains an even higher level of capital relative to risk weighted assets.
If carried out at the end of 2009, when Permata’s Capital Adequacy Ratio was reported at 12.2% (after market risk charges) it would have added 140bps to the CAR. This significantly exceeds Bank Indonesia’s minimum requirement of 8%.
For further information, please contact :
Leila Djafaar
Senior Vice President
Senior Vice President
Head, Corporate Affairs
P : [021] 523 7899 ext. 1766
P : [021] 523 7899 ext. 1766
F : [021] 523 7253
Katharine Grace
Senior Vice President
Senior Vice President
Head, Corporate Secretary
P : [021] 523 7999
P : [021] 523 7999
F : [021] 252 4492
PROFILE OF PT BANK PERMATA TBK
PT Bank Permata Tbk (”PermataBank”) was formed by a merger of five banks PT. Bank Bali Tbk, PT. Bank Universal Tbk, PT. Bank Artamedia, PT. Bank Patriot dan PT. Bank Prima Express in 2002, currently has grown into a leading private bank, and provides comprehensive and innovative products and services, especially in the area of high-tech delivery channels including Internet Banking and Mobile Banking. PermataBank aspires to be the outstanding financial services provider in Indonesia, focusing on Consumer and Commercial segments. Serving approximately 1.9 million customers in 55 cities in Indonesia, PermataBank has around 5,000 employees, 279 branches (including 10 sharia branches) and 569 ATMs (including 1 sharia ATM) with additional access to more than 20,000 ATMs (VisaPlus, Visa Electron, MC, ALTO, ATM Bersama, ATM BCA).
Recent acknowledgments to PermataBank's transformation are 2009 Islamic Finance Award & CUP 2009 (IFAC 2009), 1st position category the sharia unit, by asset ≥ Rp.1 trillion and 1st position the most profitable, by asset ≥ Rp.1 triliun from Karim Business Consulting, Overall Winner and First Prize Winner within the listed private financial institution category in the Annual Report Award 2008, Banking Service Excellence Awards 2009 (10 awards for conventional and 7 awards for syariah) from MRI & InfoBank, MURI Award for first time saving together for students under 17 years age in 12 cities from MURI, Corporate Governance Award for Best Equitable Treatment of Shareholders category from Business Review, Asosiasi Emiten Indonesia and IICD, 2nd position Best CEO in Asia Best Managed Companies and 8th position Best Corporate Governance in Asia Best Managed Companies from Finance Asia Magazine, the Most Prestigious Carre' for the fourth consecutive time at CCSL's Annual Call Center Award 2009 and Banking Efficiency Award 2009 from Bisnis Indonesia. PermataBank's website can be accessed at http://www.permatabank.com .
PT Bank Permata Tbk (”PermataBank”) was formed by a merger of five banks PT. Bank Bali Tbk, PT. Bank Universal Tbk, PT. Bank Artamedia, PT. Bank Patriot dan PT. Bank Prima Express in 2002, currently has grown into a leading private bank, and provides comprehensive and innovative products and services, especially in the area of high-tech delivery channels including Internet Banking and Mobile Banking. PermataBank aspires to be the outstanding financial services provider in Indonesia, focusing on Consumer and Commercial segments. Serving approximately 1.9 million customers in 55 cities in Indonesia, PermataBank has around 5,000 employees, 279 branches (including 10 sharia branches) and 569 ATMs (including 1 sharia ATM) with additional access to more than 20,000 ATMs (VisaPlus, Visa Electron, MC, ALTO, ATM Bersama, ATM BCA).
Recent acknowledgments to PermataBank's transformation are 2009 Islamic Finance Award & CUP 2009 (IFAC 2009), 1st position category the sharia unit, by asset ≥ Rp.1 trillion and 1st position the most profitable, by asset ≥ Rp.1 triliun from Karim Business Consulting, Overall Winner and First Prize Winner within the listed private financial institution category in the Annual Report Award 2008, Banking Service Excellence Awards 2009 (10 awards for conventional and 7 awards for syariah) from MRI & InfoBank, MURI Award for first time saving together for students under 17 years age in 12 cities from MURI, Corporate Governance Award for Best Equitable Treatment of Shareholders category from Business Review, Asosiasi Emiten Indonesia and IICD, 2nd position Best CEO in Asia Best Managed Companies and 8th position Best Corporate Governance in Asia Best Managed Companies from Finance Asia Magazine, the Most Prestigious Carre' for the fourth consecutive time at CCSL's Annual Call Center Award 2009 and Banking Efficiency Award 2009 from Bisnis Indonesia. PermataBank's website can be accessed at http://www.permatabank.com .
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