Indonesia: CIMB Niaga Records Big Increase in Microlending

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Mar 2011
Jakarta, Indonesia, March, 17 2011 - Bank CIMB Niaga says it increased micro-lending disbursements more than 100 percent to Rp 167 billion (US$19.03 million) in January and February compared to the same period last year.

The bank, Indonesia's fifth largest lender by assets, recorded disbursements of Rp 75 billion in January and Rp 92 billion in February, CIMB Niaga special lending and microfinance commercial banking head Firman A. Moeis said on Thursday in Medan.

“We keep expanding, thus the high growth. Although the growth rate has reached more than 100 percent, we can still further optimize it because the market potential is big,” he added, as quoted by kontan.co.id.

Firman said the bank disbursed Rp 500 billion in microloans in 2010, about Rp 41 billion per month.

Source : The Jakarta Post
 

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