There is a silver lining in the establishment of Bank Pembangunan Daerah Banten Tbk (BEKS). BEKS and Bank Pembangunan Daerah Jabar and Banten Tbk (BJBR) will not compete for the banking market in Banten. Both of them choose to work together.
Ahmad Irfan, the President Director of BJBR, said that BEKS will work on the micro credit while BJBR will work on the consumer credit. “We will work together. The Government of Banten will not sell its shares in BJBR,” said Ahmad. On the first term of 2016, BJBR credits grew by 17% to 59.37 trillion IDR. The commercial loan contributed 65%-70% of the total bank loan portfolio.
The company did a stress test on the competitive impact when BEKS appeared as Bank Banten. It didn’t affect the company’s performance significantly.
The Government of Banten had 5.37% BJBR share. Meanwhile, Banten Global Development (BGD) will have 68% of BEKS share gradually.
In trading on Wednesday (3/8), BJBR share decreased by 0.3% to 1.655 IDR while BEKS increased by 4.5% to 116 IDR. (*)
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