BANK RAKYAT INDONESIA HIKES ITS BOND VALUE TO US$321 MLN

JAKARTA-

PT Bank Rakyat Indonesia (BRI)(JSX:BBRI), a publicly traded lender, said it will raise the value of bonds it plans to issue to Rp3 trillion (US$321 million) from Rp2 trillion set earlier.

The state bank, however, is still awaiting a go ahead from the capital market watchdog Bapepam to issue the bond scheduled for next month or December.
BRI Director Abdul Salam said the improved condition of the market prompted the bank management to raise the value.

With the bond fund, BRI hoped to maintain a safe capital adequacy ratio at 15 per cent, Salam said.

In June BRI's CAR was 14 per cent and the level was believed to have declined with dividend paid to the government.