JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BBTN) has allocated 90% of profit earned (Rp 209.26 billion) in the financial year 2019, or about Rp 188 billion as retained earnings. This allocation plan has been approved in the Annual General Meeting of Shareholders (AGMS)(12/3).

Pahala Mansyuri, President Director of PT Bank Tabungan Negara (Persero) Tbk (BBTN) said that the company would use the retained earnings as working capital of the company. "While that will be distributed as a dividend of 10% or Rp 20.9 billion of total net profit," he said.

According to him, the performance of 2019 has decreased, when compared to 2018, because of the increase in non-performing loans (NPL) and the presence of additional reserves, including the reserves for PSAK71, which to be applied in 2020. Dividend payments will be made on April 15, 2020, and the last trading date with dividend rights (cum dividends) in Regular Market, Negotiated Market, and Cash Market will be on March 20 and 24, 2020. (LK/W)