Stock split plan and expansion in wet market in the pipeline
BBRI’s CEO, Sofyan Basir, stated that the bank plans to do the stock split if the share price reach Rp10,000/share by the end of this year. Basir reaffirmed the plan to increase the liquidity with ratio 1:2 or 1:4. The decision is pending the approval of shareholders at EGM that will be held to obtain the approval on AGRO acquisition plan.
On another remark, Basir stated that BBRI is seriously expanding the business to wet-market by opening additional 400 unit of Teras BRI (BRI terrace) from exisiting 217 units since its first rollout in March 2009. By the end of 1H10, Teras BRI has raised Rp135.41bn of third party funds and disbursed credit of Rp333.61bn. This strategic plan has raised the bar for banks that compete in wet market mainly BDMN.
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