JAKARTA (Yosefardi) – PT Bank Mayapada Tbk (MAYA), among the fastest growing banks in the past two years, maintains its capital adequacy ratio (CAR) of 11% amid the current economic slowdown and the weakening rupiah against the US dollar.
Haryono Tjahjarijadi, president director of Bank Mayapada, said the bank expects to boost its CAR to above 14% with launching the rights issue for 391.31 million new shares in the third quarter of this year.
Bank Mayapada targets to raise Rp650 billion from the rights issue. Currently the bank’s core capital reaches Rp4 trillion. This planned rights issue will be the eight rights issue since the financial crisis in 1997-1999.
Including the current rights issue and IPO in 1997, MAYA raised a total of Rp2.62 trillion from equity market. MAYA has also issued around Rp2 trillion worth of bonds and sub-ordinated bonds in the period.