Bank Mantap Receives Capital Injection of Rp200 Billion

Kuta (Antara Bali) - PT Bank Mandiri Taspen Pos (Mantap) has received a capital injection of Rp200 billion from its shareholders to strengthen its business expansion and to develop digital infrastructure in 2018.

"The capital injection is party used to strengthen digital services such as mobile banking and other banking services," Chief Executive of Bank Mantap Josephus K Triprakoso said after an extraordinary Shareholders` general meeting here on Monday.

Josephus said each shareholders including state lender Bank Mandiri already paid Rp119 billion and Taspen Rp81 billion to meet the requirement for additional capital.

Josephus said the bank, which target pensioners as its clients reported Rp110 billion in net profit in the first nine months of this year, up 172.7 percent from the same period last year.

The bank, formerly known with the name of Bank Sinar Harapan Bali recorded improvement in performance until the third quarter of this year amid the unfavorable economic condition.

By September this year, the bank`s outstanding credits reached Rp9.15 trillion up from Rp3.56 trillion a year earlier.

In the meeting, the shareholders agreed to change the name of the company with Bank Mantap derived from the names of its shareholders, the two state companies. (WDY)