JAKARTA - PT Bank IBK Indonesia Tbk (AGRS) plans to issue rights in 2020 in order to increase capital adequacy. This year the company is targeting a total capital of Rp 2.4 trillion.

Alexander Frans Rori, Independent Director of PT Bank IBK Indonesia Tbk (AGRS) said that capital of IBK had reached Rp 1.3 trillion, which is in accordance with the provisions of the Financial Services Authority (OJK), next year the capital of the company would exceeded the existing provisions. "First, regarding the additional capital; currently, the capital of IBK Indonesia is about Rp 1.3 trillion-as in accordance with OJK regulations, which will be Rp 1 trillion next year- actually, IBK has already exceeded the provision," he said.

Along with that, the management will also boost credit growth to reach 51% or Rp 5.8 trillion. Third party funds will grow by 23.1% or to reach Rp 61 trillion. In addition to growing operational performance, the management will also expand the office network to Eastern Indonesia, one of which is a branch office in the Province of Bali. (LK/W)