Bank Nagari Becomes Limited Company
Bisnis Indonesia, page B3, 2006-07-24
The North Sumatra Regional House of Representatives has agreed upon the status change of Bank Nagari to limited company from regional company. The status change was done to improve the bank’s activities. The status change was followed by the bank’s capital alteration from Rp.1 billion to Rp.1 trillion. From the total capital of Rp.1 trillion, the public has a chance to own 40 percent of share ownership (while the remaining 60 percent are reserved for the regional government). Between the period of 2000 to 2005, the bank’s asset has grown significantly. In 2000, the asset was Rp.1.5 trillion and rose 40 percent to Rp.2.1 trillion in 2001. By 2002, the asset rose 26 percent to Rp.2.6 trillion. In 2003, the asset rose by 11.5 percent to Rp.2.9 trillion. In 2005, the asset rose once more by 13 percent to Rp.3.5 triilion from Rp.3.1 trillion (2004). For the period of one year, Bank Nagari will restructure its administration and improve its performance so that the bank may function in accordance to limited liability company’s regulations.

Bank Nagari Opens Syariah Unit in July
Bisnis Indonesia, page B8, 2006-01-17
Bank Pembangunan Daerah Sumatra Barat (the West Sumatra Regional Development Bank), also known as Bank Nagari, projects that it will open its syariah-branch by the second semester of the year. For the moment, it is currently completing its basic budget revisions to establish the unit.