Wow! Dato’ Sri Tahir Deposits Jumbo Capital of IDR 3 Trillion to Bank Mayapada

Bank Mayapada is included in a club or group of assets of IDR 100 trillion and above in national banking. In fact, now the controlling shareholder of Bank Mayapada, Dato’ Sri Tahir, has deposited IDR 3 trillion in capital.

By: Tim Biro Riset Infobank

Extraordinary! Dato’ Sri Tahir, controlling shareholder (PSP) of Bank Mayapada, in June 2023 has injected capital of IDR 3 trillion. This huge capital injection not only made Bank Mayapada’ capital much bigger, but also demonstrated the strong commitment of shareholders.

“I have a strong commitment to growing Bank Mayapada, so I will continue to deposit capital according to the growing needs of the bank,” said Dato’ Sri Tahir when asked by Infobank about this large capital deposit.

According to Dato’ Sri Tahir, the amount of capital deposited into Bank Mayapada is IDR 3 trillion, at the end of June 2023. Thus, the total capital that went into Bank Mayapada was IDR 3 trillion. “Please check with the OJK,” he continued.

This IDR 3 trillion capital deposited from the controlling shareholder, apart from being a form of owner’s commitment, also makes Bank Mayapada’s (MAYA) “foundation” stronger, which it will directly boost the capital adequacy ratio (CAR). An Infobank source at OJK confirmed the capital deposit from Dato’ Sri Tahir to Bank Mayapada. “It is true that the controlling shareholder, in this case Dato’ Sri Tahir, has deposited capital into Bank Mayapada,” said an Infobank source at the OJK when asked for confirmation about the capital deposit that had entered the capital deposit account.  

The banking business is like running a marathon. A deep breath. The bigger the bank, the bigger the capital requirement. Not only to protect the bank against risks that come, but also to give confidence to its customers. “My commitment continues to grow Bank Mayapada. This capital deposit is a form of my commitment,” said Dato’ Sri Tahir.

According to the records of the Infobank Research Bureau (birI), not many bank owners have a strong commitment to growing their bank. The proof is, not all bank owners easily reach into their pockets to increase capital, and it was Dato’ Sri Tahir who still had a strong commitment to growing his bank by depositing capital. The mechanism is, of course, with a rights issue, even though it has been carried out with a paid-up capital account.

It is estimated, according to the calculations of the Infobank Research Bureau, this pool of capital will add to MAYA’s core capital position plus reserves of IDR 18 trillion. And, calculated by the Infobank Research Bureau, the additional capital of IDR 3 trillion will boost CAR, at least to a figure above 15%. Clearly, a CAR of 15% will allow it to continue growing, and be able to absorb risks that may arise in the midst of a global recession.

Based on published data, the position of Non-Performing Loans (NPL) as of March 2023 was 2.83% (gross), or dropped dramatically compared to the position in March 2022 which was still at 4.12%. It could be that this additional capital is more for the development of Bank Maya in the future, as well as facing risks in the midst of an unfavorable global economy.    

”The controlling shareholder has deposited capital. This means that a big commitment, and of course a large capital will be able to make the bank grow well, as well as to absorb risks in the event of an economic downturn. The possibility of a worsening of the Indonesian economy is very small, yet in essence, capital is getting better and stronger, because the bigger the bank, the stronger the capital needed,” said Mikail Mo, researcher from The Asian Institute for Capital Market and Investment. Wow! Dato’ Sri Tahir’s capital deposit made Bank Mayapada even stronger with capital strength plus reserves of around IDR 18 trillion with a CAR of above 15%. This is the strong commitment of the controlling shareholder of Bank Mayapada, which now has assets of IDR 142.25 trillion. (*)