JAKARTA. PT Bank Maspion Indonesia Tbk (BMAS) targets to book distributed credits of IDR 14 trillion at the end of this year, aiming for 61% growth compared to 2022’s achievement worth IDR 8.8 trillion.

President Director of Bank Maspion, Kasemsri Charoensiddhi, stated that the management had carried out various activities, including expanding business to the new market, including corporate banking, syndicated loan, supply chain financing, and credit distribution to drive business growth. With those programs, BMAS managed to raise its credit distribution, which, by the end of this year, is projected to arrive at IDR 14 trillion.

“Our company also tries to build our branding to increase familiarity among local people, as well as aligning Bank Maspion as a part of a bigger group,” Charoensiddhi further told IDNFinancials. As is known, Kasikorn Vision Financial Company Pte. Ltd. (KVF) had acquired 30.1% of Bank Maspion in 2022. Said corporate action was then followed with a rights issue worth IDR 3 trillion, bringing KVF’s portion up to 62.53%.

At the end of November 2023, Bank Maspion held another rights issue worth IDR 1.7 trillion, thus bumping up KVF’s portion even higher to 81.1% and diluting PT Alim Investindo’s stock portion in BMAS to 13.89%, as well as Kasikorn Bank Public to 2.45%, PT Kasikorn to 1%, and public (scriptless) to 1.56%. After this rights issue, the total issued and paid-up capital rose to IDR 6.7 trillion.

Looking at BMAS’s continuous business growth, Charoensiddhi sets the target that in 2024, the total credit disbursed will reach IDR 20 trillion, even IDR 30 trillion in 2026. Bank Maspion also aims to post net interest income of IDR 608 billion and net profit of IDR 95 billion. Furthermore, the assets are estimated to reach IDR 22 trillion with total liabilities of IDR 15 trillion and equity of IDR 7 trillion. (AM/ZH)