Pefindo Reassigns ‘idA-‘ Rating to Bank Mayapada

Pefino reassigned the ‘idA-‘ rating to PT Bank Mayapada International Tbk. (MAYA) and ‘idBBB+’ rating for the subordinate III/2013 bond.

According to the written statement as received by Bisnis Indonesia (4/3), Pefindo assessed the company’s corporation rating is in stable outlook. From its asset quality, MAYA has a moderate market share.

The company focuses on commercial business which covers cooperative as well as small and medium enterprises (SME).

Based on the publication report as released by Bank Indonesia, up to January 2014, the bank with the core capital of IDR2.15 trillion and credit disbursement of IDR17.66 trillion, grew by 41.5% from IDR12.48 trillion in the same period of the previous year.

Up to January 2014, the total third party fund (TPF) as collected by the company reached IDR20.76 trillion or 34.89% higher than IDR15.39 trillion in the same period of 2013.

Meanwhile, the company’s TPF composition consists of clearing account worth IDR1.33 trillion, saving account of IDR1.65 trillion and time deposit at IDR17.78 trillion.

Source: http://m.bisnis.com/en/read/20140403/114/26730/pefindo-reassigns-ida-rating-to-bank-mayapada