Bank CIMB Niaga (BNGA) booked a net profit of Rp1.8 trillion in the first half (H1) of 2018; it grew 28% year on year (y/y), supported by a jump in non-interest income and lower provision. The Bank’s earning per share (EPS) was Rp70.54.
Read MoreLynx Asia, investment and financial firm based in Singapore, acts as special purpose vehicle (SPV) for conducting asset swap for Bank Muamalat, pioneer of sharia banking in Indonesia. The asset swap will value at Rp6 trillion. The same investor who will acquire assets of Bank Muamalat is set to act as standby buyer for Islamic bonds (sukuk) issued by Bank Muamalat. So SPV or new investor would prepare Rp8 trillion in total for acquiring assets of Bank Muamalat. The question for new investors are the quality of bonds issued by Bank Muamalat. Bank Muamalat also offers no coupon on its bonds.
Read MoreThe Ministry of State-owned Enterprises (SoE) mulls the idea of selling its shares in Bank Bukopin (BBKP) as it currently holds 11.43%. Some new investors were reportedly keen to acquire Bank Bukopin in past years but nothing has materialized.
Read MoreBank Muamalat, pioneer of sharia banking in Indonesia, booked net profit of Rp26 billion in 2017, dropped 67.5% from Rp80.5 billion in 2016. While comprehensive profit surged 149% to Rp249.4 billion from previous Rp100 billion....
Read MoreWe’ve read more statements from high-profile figures in Indonesia, especially those with Islamic credentials, regarding sharia bank Muamalat. These statements have only strengthened speculations about financial difficulties of the bank, which is pioneer of sharia banking.
Read MoreBank Permata (BNLI), co-owned by Standard Chartered Bank and Astra International (ASII), booked profit after tax of Rp748 billion in 2017, against loss of Rp6.48 trillion in 2016. Net interest income declined 11.2% to Rp5.2 trillion from previous Rp5.88 trillion, but operating profit rose 5.25% to Rp8.58 trillion from earlier Rp8.15 trillion
Read MoreManagement of securities firm Minna Padi Investama Sekuritas (PADI) has on Wednesday (Feb 7) confirmed our earlier report that it now acts as the facilitator for the acquisition over Bank Muamalat, pioneer of sharia banking in Indonesia, instead of being a standby buyer. The Conditional Share Subscibtion Agreement (CSSA) signed by both parties had lasted on Dec 31, 2017.
Read MoreNew investors of Bank Muamalat, pioneer of sharia banking in Indonesia, will likely control more than 80% of the enlarged share capital. Who are they?
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