"The paid-in capital is part of our effort to issue portfolio shares," Bukopin corporate secretary Tantri Wulandari said.
She said the paid-in capital was aimed at supporting the bank`s credit financing to micro small and medium businesses and cooperatives as its core business.
"We have set ourselves the target of raising the amount of credits channeled to micro small and medium businesses by a range of 20 percent to 25 percent from last year`s Rp28.6 trillion," she said.
The bank allocated 60 percent of overall credits to small and medium business. The figure is equal to 30 percent growth compared to the amount of small and medium business credits channeled last year reaching Rp16.9 trillion.
To strengthen its credit financing, Bukopin has raised Rp900 billion in fresh funds through a second rights issue and 62 percent of the funds has been allocated to develop the credit financing of micro small and medium businesses.
As such, Bukopin will get an additional fund of at least Rp560 billion to strengthen its performance in the sector.
The bank believed the target would be achieved through partnership strategy and value added chains with strategic partners the more so because the company has received a fund injection of an estimated Rp900 billion through the second rights issue.
The figure indicated investors` growing confidence in the company, she said.
(T.KR-SSB/S012/HAJM)
Editor: Priyambodo RH
Copyright © ANTARA 2011
