Bank Yudha Bhakti will use 72.14 percent of the IPO proceeds for credit expansion. The remaining 27.86 percent will be used for development of its IT department (to improve services to customers).

The bank was established in 1989 and began commercial operations one year later. It has six branches, 20 sub-branches and five cash offices. Bank Yudha Bhakti’s main activity is the provision of banking services.

Currently, 58.04 percent of Bank Yudha Bhakti’s shares are owned by Gozco Capital. In June 2014, Bank Yudha Bhakti’s equity stood at IDR 265.54 billion (USD $21.2 million).

Further Reading:

Official Website of Bank Yudha Bhakti