BRANCH BANKING | Tony Chua, Indonesia

StanChart injects $100mln capital to its Indonesia unit

To maintain CAR at 15%-16% and would ask for additional capital to be within safe level.

Standard Chartered Bank (SCB) Indonesia has received a capital injection of US$100 million from its parent company to support its credit expansion plan in the country.

Tom Aeker, chief executive officer of SCB Indonesia, said the capital injection in April reflected the interest of Standard Chartered PLC in expanding its operations in Indonesia.

With the additional capital, SCB Indonesia has a capital of around US$400 million with a safe capital adequacy ratio (CAR).

The bank would maintain the CAR at 15 per cent-16 per cent and it would ask for additional capital if needed to keep the CAR at the safe level, he said.

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