Friday, 07 Jun 2024

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Jakarta, June 5, 2024 - PT Bank Amar Indonesia Tbk (“Amar Bank”, BEI: AMAR), a digital bank catering to retail and MSME sectors, unveiled a cash dividend distribution plan of IDR 55 billion, equivalent to 31% dividend payout ratio of the company's 2023 net profit of IDR 177.9 billion. This declaration stems from the resolutions passed at Amar Bank's 2024 Annual General Meeting of Shareholders (AGMS) convened on Wednesday, May 29, 2024. This proclamation positions Amar Bank as the pioneer among digital banks in 2024 to disburse dividends, navigating through the evolving landscape of Indonesia's digital banking sector, signaling the company's confidence in sustained growth for 2024 and beyond. The company will disburse dividends at IDR 3,03 per share to entitled shareholders. The payments will be eligible to shareholders listed in the Company's Register of Shareholders, while cum dividends trading will occur in the regular market and negotiations, scheduled for Thursday, June 6, 2024, at the latest. Vishal Tulsian, President Director of Amar Bank, remarked, "As pioneers in digital banking, we take pride in being the first digital bank to distribute dividends in 2024. This achievement is particularly notable given the intensifying competition within the digital banking and fintech sectors over the past few years. Our consistent focus on innovation to cater to the retail and MSME segments has propelled our performance and profitability throughout 2023 and early 2024. This dividend distribution underscores our commitment to our investors and shareholders, reinforcing our confidence in sustained growth." Additionally, the cash dividend distribution schedule for the 2023 financial year, available on the company website and the Indonesian Stock Exchange website, is as follows: Cum Dividends in Regular and Negotiated Markets: June 6, 2024 Ex Dividends in Regular and Negotiated Markets: June 7, 2024 Cum Dividends in the Cash Market: June 10, 2024 Ex Dividend in Cash Market: June 11, 2024 Recording Date List of Shareholders Entitled to Cash Dividends: June 10, 2024 Cash Dividend Distribution: June 28, 2024 The company's optimistic outlook is underpinned by its robust performance in 2023 and early 2024, demonstrating substantial business growth amid macroeconomic fluctuations and geopolitical uncertainties. Throughout the first quarter of 2024, Amar Bank continued to extend credit amounting to IDR 2.74 trillion, with 52% of these loans directed towards MSMEs. This performance underscores Amar Bank's expanding market presence, especially considering that, according to regulator data from March 2024, the average allocation of the fintech lending industry to the productive sector accounted for only 33.61% of total fintech lending financing. Separately, Leonardo Lijuwardi, Equity Research Analyst at NH Korindo Sekuritas gave an interesting assessment of Amar Bank's strategic steps which backed with solid fundamentals, "When compared with several well-known competitors in the digital banking industry, AMAR is able to distribute dividends after successfully achieving turn-around performance. This step is also strengthened by