JAKARTA, 24 March 2017: The Annual General Meeting of Shareholders (AGMS) of PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) has approved the bank's Financial Statement of 31 December, 2016 and agreed to a pay out Rp 574.5 billion - the equivalent of Rp 100 per share - in dividends for the 2016 financial year.“Over the past eight years, BTPN has consistently maintained and reinvested all of its yearly earnings, with the effect that our Capital Adequacy Ratio (CAR) has reached 25%. We feel that this is the right moment to begin distributing dividends to show our appreciation for our shareholders for their ongoing trust and support,” said President Director of BTPN Jerry Ng.
This is the first time that BTPN is paying out dividends since it conducted an initial public offering (IPO) in March 2008. The value of this dividend distribution represents 39% of BTPN's non-consolidated income for the 2016 financial year of Rp 1.46 trillion. The size of the dividend was determined with due regard to the fundamentals of the company
On a consolidated basis, as of December 31, 2016, the value of BTPN's total assets stood at Rp 91.4 trillion, up 13% from Rp 81 trillion on December 31, 2015. Meanwhile, as cited by the bank's CEO, BTPN's capital adequacy ratio (CAR) was at an impressive 25%, while its non-performing loan (NPL) ratio was kept at a very low level of 0.8%. Furthermore, the bank's liquidity ratio, or loan to funding (LFR) ratio, stood at a sound 86%. These various financial indicators reflect the strong and healthy fundamentals which have enabled the company to meet its targets.
Going forward, BTPN will continue to make innovations in order to sustain its vision of becoming the best mass market bank with the ability to change the lives of millions of Indonesian people. "We are optimistic that BTPNs future performance will improve further even though the country’s economy is still quite challenging," Jerry added.
In addition to setting the dividend distribution for the 2016 financial year, the AGMS also approved a change in the composition of BTPN’s Board of Commissioners. The AGMS agreed that the previous member of the Board of Commissioners, Hiroshi Higuma, would be replaced by Shinichi Nakamura. This change means that BTPN’s Board of Commissioners currently consists of Mari Elka Pangestu as President Commissioner, along with Arief T Surowidjojo, Irwan Mahjudin Habsjah, Chow Ying Hoong and Shinichi Nakamura as members of the board.
Shinichi Nakamura (54 years old) is a Japanese citizen who currently serves as Senior General Manager of the Emerging Markets Business Division at Sumitomo Mitsui Banking Corporation (SMBC) in Singapore. He received a Bachelor of Laws degree from Kyoto University in 1985 and a Master of Laws (LL.M) degree from the School of Law of the University of Illinois at Urbana Champaign in 1989.