Bank Mutiara plans NPL restructuring in 2011

JAKARTA: PT Bank Mutiara Tbk is to restructure the non-performing loan (NPL) next year, which is worth IDR300 billion. The act is designed to increase company's assets to gain optimum bid before it is sold by Indonesian Deposit Insurance Corporation
News Editor
News Editor - Bisnis.com 20 Desember 2010  |  11:02 WIB

JAKARTA: PT Bank Mutiara Tbk is to restructure the non-performing loan (NPL) next year, which is worth IDR300 billion. The act is designed to increase company's assets to gain optimum bid before it is sold by Indonesian Deposit Insurance Corporation (LPS) as the shareholder.President Director of PT Bank Mutiara Maryono said that the bank has been restructuring NPL amounting IDR1.6 trillion of IDR4.6 trillion in total. The bank's management currently tries to accelerate the restructuring of the NPL before the deadline given by LPS.LPS gives us 5 years or until 2013 before the company is sold. We are accelerating NPL restructuring before the deadline since it will greatly affect company's assets value, he said, today.The bank, he continued, has been showing positive performance and moving to healthier condition. This could be seen from the increased amount of restructured NPL through letter of credit (L/C) where debtors credit repayment level is starting to improve.Maryono is optimistic they could book a growth in profit and assets as it targets to achieve IDR10 trillion assets by next year. (T05/NOM)

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Editor : Muhammad Fariz Aulia

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