BNI to pay dividends of Rp1.16 tln
Wed, April 18 2012 22:06 | 1254 Views
Jakarta (ANTARA News) - State-owned Bank Negara Indonesia (BNI) said shareholders at their meeting on Wednesday agreed to allocate 20 percent of its last year`s net profit of Rp5.8 trillion to pay dividends.
The dividends are equal to Rp1.165 trillion or Rp62.48 per share to be paid in May, BNI President Director Gatot M Suwondo said following the meeting.
Those at the meeting also agreed to set aside 10 percent of the net profit, or Rp582.59 billion, as reserves to support investment.
He said 10 percent of the net profit, or Rp582.59 billion, will be used as general and compulsory reserves, 1 percent or Rp58.26 billion as partnership program funds, 3 percent or Rp174.78 billion as a environmental development fund, and the remaining 56 percent or Rp3.26 trillion as retained earnings.
Funds from the retained earnings will be used, among others, to finance business expansion to support the bank`s seven strategic policies, including achieving the ratio asset target of 2.9 percent and the equity ratio target of 2.9 percent, quality asset growth and corporate credit ratio of 120 percent and non-performing loan target of less than 3.5 percent.
The other strategic programs are providing low interest funds with the third party fund (DPK) growth target of 13-15 percent and the current account and savings (CASA) ratio of above 60 percent, along with income growth of 8-10 percent.(*)
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