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Indonesia's Bank Rakyat to raise up to $1 billion in global bond
January 31, 2013 / 10:26 AM / 5 years ago

Indonesia's Bank Rakyat to raise up to $1 billion in global bond

JAKARTA, Jan 31 (Reuters) - Bank Rakyat Indonesia, the world’s biggest microlender, aims to raise $500 million to 1 billion in a global bond offer this year, the firm said on Thursday.

The state-owned bank has appointed Citigroup Inc and Standard Chartered Bank as lead underwriters.

Indonesia’s second-largest lender by assets reported full-year 2012 net profit of 18.52 trillion rupiah ($1.90 billion), up 22.8 percent from 15.08 trillion rupiah in the previous year.

Loan growth was 22.8 percent for the full year, up from 14.8 percent and on par with an industry average of above 20 percent.

Bank Rakyat specialises in small-scale lending to farmers and small businesses in Southeast Asia’s largest economy.

Its shares closed on Thursday at 7,950 rupiah, up 1.27 percent, outperforming the Jakarta index’s 0.02 percent rise.

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