PT Bank CIMB Niaga Tbk's Board intends to launch an Equity Buyback.
March 10, 2017 at 12:00 am EST
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On March 10, 2017, the company announced that it plans to launch an Equity Buyback. Under the program, the company will repurchase up to 503,000,000 shares, representing 2% for IDR 500,000 million. The shares will be repurchased through the Indonesia Stock Exchange. The repurchases are expected to commence from April 25, 2017 and will be valid for a period of 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 
