GIC Private Limited, a Singapore government's sovereign wealth fund, reportedly becomes the new shareholder of PT Bank Jago Tbk (ARTO) through a rights issue. GIC will hold 9.67 percent of ARTO shares worth Rp 3.15 trillion.
PT Bank Bumi Arta Tbk (BNBA) plans to transform into a digital bank and is currently looking for strategic partners, such as e-commerce, digital payments, online payments, and fintech platforms.
Bank Indonesia (BI) relaxed provisions for down payments on housing loans. Beware of increasing non-performing loans (NPL) in the middle-lower segment.
The Financial Services Authority (OJK) will release the OJK Regulation on digital banks before the middle of this year. These banks are required to have a minimum capital of Rp 10 trillion.
PT Bank Mandiri Tbk (BMRI) estimates that 10 percent of debtors in the high-risk category cannot pay their loans due to the COVID-19 pandemic. Other banks may also face similar non-performing loans (NPL).
Private hospitals complain about the late cost reimbursement for COVID-19 patients due to the slow verification process and increasingly costly treatments.
Several small banks are trying to raise additional capital to meet the minimum requirement of Rp 2 trillion by the end of 2021, from conducting the initial public offering (IPO) to attracting strategic investors.
Multi-finance companies can issue debt securities without going through a public offering. It solves capital problems or multi-finance liquidity when banks still carefully disburse credits.
