JAKARTA – PT Bank CIMB Niaga Tbk (BNGA) plans to repurchase 202,000 shares, with the proceeds to be distributed as remuneration to the management team.

In a disclosure on Thursday (27/2), Fransiska Oei, Compliance Director of BNGA, stated that the buyback proposal will be presented for approval at the company’s Annual General Meeting of Shareholders (AGMS) on 14 April 2024. If approved, the buyback will be conducted within 12 months.

During the AGMS, the company will also seek approval to allocate the repurchased shares as part of the remuneration package for BNGA’s management. The budget allocated for the buyback amounts to IDR 450 million.

As of January 2025, BNGA has 25.14 billion outstanding shares, with 91.45% held by Controlling Shareholders and 8.56% by Non-Controlling Shareholders.

Notably, BNGA’s board members with shareholdings include Vera Handajani (Commissioner), Lani Darmawan (President Director), and directors Fransiska Oei, Lee Kai Kwong, John Simon, Pandji P Djajanegara, Rusly Johannes, Joni Raini, Tjioe Mei Tjuen, Henky Sulistyo, and Noviady Wahyudi. (LK/ZH)