The bank targets credit growth of 33 percent to IDR 2.66 trillion (USD $213 million) in 2015 supported by targeted third-party funds growth of 21 percent to IDR 2.82 trillion. The company targets profit growth of 170 percent to IDR 48.34 billion in 2015.

Bank Yudha will use 72.14 percent of the IPO proceeds for business development, and the remainder for the development of its IT department (to improve services to customers).

After the IPO, the shareholder composition of Bank Yudha is as follows: Gozco Capital (53.82 percent), the eight cooperative associations of the Indonesian Military and the National Police (25.49 percent), Sugeng Subroto (3.52 percent), the cooperative association of Bank Yudha’s employees (5.24 percent), and the public (11.93 percent).

The Indonesia Stock Exchange aims to list 32 Indonesian companies in 2015.

Bahas