PT Bank CIMB Niaga Tbk announces an Equity Buyback for 503,000,000 shares, for IDR 500,000 million.
February 26, 2018 at 09:04 am EST
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PT Bank CIMB Niaga Tbk (IDX:BNGA) commences share repurchases on January 22, 2018 under the program mandated by the shareholders in the Extraordinary General Meeting held on April 25, 2017. As per the mandate, the company is authorized to repurchase up to 503,000,000 shares, for IDR 500,000 million. The objective of share repurchase program is to improve the performance of company. The repurchase program will be valid for 18 months.
PT Bank CIMB Niaga Tbk (the Bank) is an Indonesia-based company, which is engaged providing general banking services. The Bank operates through seven segments: Corporate, Business, Retail, Treasury, Sharia, Subsidiaries, and Others. The Corporate segment includes loans, deposits and other transactions, and balances with corporate customers. The Business segment includes products and services for customer segments comprising small to medium scale enterprises. The Retail segment focuses on products and services for individual customers. This segment includes products, such as loans, deposits and other transactions, and balances with retail customers. The Treasury segment undertakes its treasury activities, which include foreign exchange, money market, derivatives, and investing in placements and securities transactions. The Sharia segment includes all transactions relating to Sharia Business Unit. The Subsidiaries segment includes all transactions relating to subsidiaries businesses.
PT BANK CIMB NIAGA TBK 
