A customer makes a transaction at a Maybank Indonesia ATM. (ID Photo/David Gita Roza)

Maybank Indonesia Announces NCD Issuance, Reopens Friday


JUNE 29, 2017

Jakarta. Bank Maybank Indonesia, the local unit of Malaysia's Malayan Banking, raised Rp 330 billion ($22.6 million) from issuing negotiable certificates of deposit (NCD) last week in order to strengthen the bank's short term liquidity, a statement released by the lender said on Thursday (29/06).

Maybank said it issued the NCDs, an interbank financing instrument, on June 22, without the help of a third-party arranger. The lender sold A series NCDs, which have a 365-day tenure, for Rp 300 billion, 7.2 percent lower than the certificates' face value. The B series certificates, which have an 18-month tenure and 7.35 percent discount rate, were sold for Rp 30 billion.

"This shows Maybank Indonesia has the ability to market NCDs without the support of arranger services. This NCD issuance will strengthen the bank's funding structure," Maybank said in the statement.

Maybank also announced it will reopen all of its 425 branches in the country on Friday, June 30, ending nearly a week's break for Idul Fitri holiday.

All branches will offer full services, including remittance using the central bank's real-time gross settlement system (BI-RTGS) — used to process large transactions above Rp 100 million ($7,500) between banks, clearing and tax payment.

Taswin Zakaria, Maybank Indonesia president director, said the bank also has 1,605 cash deposit machines and over 20,000 ATM machines on the Prima, ATM Bersama, Alto and Cirrus network in Indonesia and MEPS in Malaysia.