BTPN’S ANNUAL GENERAL MEETING (AGM) OF SHAREHOLDERS AGREES NOT TO DISTRIBUTE DIVIDENDS, REFLECTING THE SHAREHOLDERS STRONG COMMITMENT TOWARDS THE COMPANY
Jakarta, 26 March 2015 - The Annual General Meeting (AGM) of Shareholders of PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) gave its approval to the Financial Report of 31 December 2014. The AGM also agreed not to pay dividends from the 2014 financial year to shareholders.
Beginning from 2008, this is the seventh year that BTPN has not paid dividends to shareholders. The decision of shareholders not to take any dividends reflects their commitment to BTPN's long-term sustainable growth.
“We are very grateful that our shareholders have decided to use 100% of BTPN's nett profit of Rp 1.85 trillion as unappropriated retained earnings. This reflects the strong commitment on the part of shareholders to support BTPN's future growth,” said Jerry Ng, President Director of BTPN.
As of December 31, 2014, BTPN's assets stood at Rp 75 trillion, an increase of 8% (year on year/yoy). Meanwhile, nett profit after tax (NPAT) in 2014 amounted to Rp 1.85 trillion.
In addition to agreeing not to pay dividends from the 2014 financial year to shareholders, the AGM also approved the addition of two members to the board of directors, namely Wolf Arno Kluge who previously served as Chief Risk Officer of BTPN, and Maya Kartika who previously served as Chief Human Capital Officer of BTPN.
BTPN also used the occasion to hold an Extraordinary General Meeting (EGM) of Shareholders, which approved amendments to and the restatement of all the Articles of Association of the Company in order to adapt to the rules of the Financial Services Authority. The EGM also approved an increase in the subscribed capital and paid-up capital of the Company without giving Preemptive Rights (PR) in the framework of the Management and Employee Stock Option Program (MESOP).
”In the future, BTPN will continue to develop banking services, along with empowerment programs, for the market segments that form the Bank's main focus, namely pensioners, Micro, Small, and Medium Enterprise (MSME) entrepreneurs, as well as productive poor communities,” Jerry concluded.