JAKARTA: PT Bank Victoria Syariah is planning an initial public offering (IPO) by second half of 2012 in attempt to add capital adequacy ratio (CAR). The two-year financing expansion has eroded the bank's CAR.President Director of Bank Victoria Syariah Sari Idayanti explained that CAr of the private bank now stands at 196%. The high CAR is resulted from the inefficient financing distribution after the spin-off in April 2010.Still, as she added, with financing growth target of IDR320 billion, a 1,103% jump from 2010 achievement, the bank's CAR will fall to 40% at the end of 2011.Similar situation, she predicted, will take place in 2012. For 2012, if the expansion target is completed, our CAR will be trimmed to 15%, said Sari in Jakarta, yesterday.Hence, the subsidiary of PT Bank Victoria International Tbk is ready for an IPO to inject its capitalization in the second semester of 2012.Besides, the bank that used to be named Bank Swaguna is also planning to add its paid-in capital from the operating income this year and next. The paid-in capital of Bank Victoria Syariah is currenty at IDR110 billion. (NOM)
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