Tuesday, 11 May 2021 | 20:15 WIB

Bank Sumut Expects Capital Injection of IDR230 Bln to Spin Off Sharia Unit

Edie Rizliyanto, President Director of Bank Sumut (analisadaily)

MEDAN, NETRALNEWS.COM - Regional-owned Bank Pembangunan Daerah Sumatera Utara, also known as Bank Sumut, expects to obtain capital injection of a minimum of IDR230 billion in the near future for its sharia unit spinoff needs.

“The minimum capital required to establish a sharia unit is at least IDR500 billion. We are IDR230 billion short,” said Edie Rizliyanto, President Director of Bank Sumut di Medan, North Sumatera, on Sunday (11/05/2017).

He said the company’s management expects to obtain the additional funds from its shareholders in the near future, as the spinoff is targeted to be completed by 2018.

"With the completion of the spinoff in 2018, Bank Sumut Syariah can be operated on January, 2019,” he said.

Edie is confident that Bank Sumut’s shareholders are willing to inject capital to the company.

"In addition, the company has also prepared several capital raising options, including options from the private sector,” he added.

Meanwhile, Nurhajizah Marpaung, Deputy Governor of North Sumatera, said the regional government is ready to support Bank Sumut’s capital injection to spin off its sharia subsidiary.

"Sharia offers significant potential, and thus would be profitable. In addition, the North Sumatra government also wants to obtain larger dividends,” she said, as reported by Antara.