Bank Syariah Mandiri to Go Public in 2009
Monday, 19 February, 2007 | 15:14 WIB

TEMPO Interactive, Jakarta: PT Bank Syariah Mandiri will carry out an initial public offering (IPO), or go public, in 2009.

This corporate action, according to Managing Director Yuslam Fauzi, is in order to fulfill capital needs and to increase the company’s value.

“Discussions about IPO have been going on for quite a long time,” he told Tempo some time ago.

However, according to him, so far the shareholder has not yet given any explanation regarding the amount of shares to be released.

Yuslam confirmed that Bank Syariah Mandiri’s value is already optimum, saying: “We’re optimistic that IPO will have good results.”

During last year, Bank Syariah Mandiri gained a net profit amounting to Rp62.5 billion and its non-performing loan ratio in 2006 was 3.4 percent.

This year the bank is targeting between 30 and 40 percent growth and also plans the building of new branches to add to the current 220.

Yuliawati