JAKARTA (Yosefardi) – PT Bank Mayapada Internasional Tbk is optimistic its third party funds to grow by 20% this year stimulated by the government’s infrastructure project development.
Vinsensius Chandra, vice president director of Bank Mayapada, said the government’s fiscal stimulus would play a role in the banking’s liquidity capacity including the movement of interest rate for deposits, rather than the impact from the hike of Fed Rate.
As of November 2014, Bank Mayapada’s third party funds jumped 62% to Rp30.9 trillion, compared to Rp19.07 trillion in the corresponding period of 2013. The deposit contributed 81.5% of total third party funds.
Meanwhile the intention of Cathay Life Insurance Group to acquire 40% shares of PT Bank Mayapada Tbk (MAYA) will potentially be challenged, for getting the approval from the regulator, as Indonesia’s Financial Supervisory Commission (OJK) has not built the cooperation for monitoring with Financial Supervisory Commission of Taiwan.
OJK will push for the implementation of reciprocal principle between countries before allowing such a foreign investors to acquire local banks. Cathay Life Insurance has agreed to acquire 40% shares of Bank Mayapada for US$278 million. Previously, RHB Capital Bhd failed to acquired PT Bank Mestika Dharma Tbk as OJK did not give approval.
Hariyono Tjahjarijadi, president director of Bank Mayapada, said PT Mayapada Karunia Corporation will maintain its controlling shareholding at the bank at 25% after the enter of new investor, Cathay Life, with 24.9% shares for the first stage. While Cathay Life intends to acquire up to 40% shares.
He also noted that Cathay Life will buy MAYA shares from foreign investors such as Summertime Limited, Unity Rise Limited, and Briliant Bazaar PTE Limited with combined 47.3% ownership in Bank Mayapada.
Bank Mayapada, Hariyono said, targets to enter BUKU 3 category with core capital of above Rp5 trillion by 2017.