The Annual General Meeting of Shareholders (AGMS) of PT Bank OCBC NISP Tbk (NISP) agreed not to distribute dividends from the 2020 net profit of Rp2.1 trillion.

The company will retain the entire net profit earnings to strengthen its capital position.

"Determination of the use of the entire 2020 net profit of Rp 2.1 trillion to strengthen the capital position and not to be distributed as dividends with considerations, among other things, to support business growth and enable the company to seize business opportunities and maintain the capital ratio in accordance with applicable regulations," said the President Director. Bank OCBC NISP Parwati Surjaudaja in Jakarta on Wednesday (7/4).

Also, shareholders agreed to change the company's management, namely Helen Wong's appointment as a commissioner to replace Samuel Nag Tsien, whose term of office had ended, effective after obtaining OJK approval until closing the OCBC NISP AGMS in 2024. The re-appointment of Martin Widjaja as Director for a term of office, from the closing of the AGMS this year until the closing of the 2024 AGMS.