Qatar National Bank injects Rp 2.18t into QNB Indonesia
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The Qatar National Bank QPSC (QNB Group) as the controlling shareholder of Bank QNB Indonesia has injected Rp 2.18 trillion (US$162.72 million) into the bank as capital paid in advance as well as acting as standby buyer in the rights issue of Bank QNB Indonesia.
The additional capital is the realization of QNB Group’s commitment to maintain the bank’s strong capital structure as well as maintain the bank’s business growth stability, the QNB Group said in a statement.
From the total funds of Rp 2.18 trillion, Rp 2.06 trillion will be used to purchase HMETD offered during a rights issue and the remaining funds will be used for next year’s rights issue.
Funds from the rights issue, after issuance costs, will be used by QNB Indonesia to increase productive assets, particularly in the form of loan disbursements.
With the commencement of the rights issue and additional capital payments from QNB Group, the bank’s capital adequacy ratio (CAR) will be 16 percent, well above the Financial Service Authority’s (OJK) minimum requirement.
On Monday, QNB Indonesia held an extraordinary shareholders meeting at the bank’s head office in Jakarta. The meeting approved Heba Ali Ghaith Al-Tamimi and Stephen Holden as commissioners and Adhiputra Tanoyo as director. The resignation of Grant Eric Lowen as a commissioner was also approved. (dea/bbn)
Questions & Answers
Q.What is the purpose of Qatar National Bank's Rp 2.18 trillion injection into QNB Indonesia?
What is the purpose of Qatar National Bank's Rp 2.18 trillion injection into QNB Indonesia?
The capital injection is to maintain QNB Indonesia's strong capital structure and support its business growth stability. It also serves as capital paid in advance and positions QNB Group as a standby buyer in the rights issue.
Q.How will QNB Indonesia use the funds raised from the rights issue?
How will QNB Indonesia use the funds raised from the rights issue?
After accounting for issuance costs, the funds from the rights issue will be used by QNB Indonesia to increase its productive assets. This will primarily be in the form of loan disbursements.
Q.What will be QNB Indonesia's capital adequacy ratio after this capital injection and rights issue?
What will be QNB Indonesia's capital adequacy ratio after this capital injection and rights issue?
Following the commencement of the rights issue and the additional capital payments from QNB Group, QNB Indonesia's capital adequacy ratio (CAR) will reach 16 percent. This figure is well above the Financial Service Authority's minimum requirement.
Q.Who were the new appointments approved at the extraordinary shareholders meeting?
Who were the new appointments approved at the extraordinary shareholders meeting?
The extraordinary shareholders meeting approved Heba Ali Ghaith Al-Tamimi and Stephen Holden as new commissioners. Adhiputra Tanoyo was also approved as a director for the bank.
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