Bank DBS sees 30% growth in lending

Sat, 09/20/2008 11:34 AM  |  Business

JAKARTA: PT Bank DBS Indonesia expects lending to grow by 30 percent this year compared to a year earlier, as demand will remain strong despite high interest rates.

"For this year, a 30-percent growth in lending is definitely possible," credit management head Ferry Singgih Adiwono said Thursday evening on the sidelines of a gathering to break the fast.

The bank booked Rp 15 trillion (around US$1.58 billion) in lending last year and hopes to see that figure rise to Rp 19.52 trillion by the end of the year.

As of the end of August, lending totaled Rp 15 trillion, said Ferry.

The bank -- which is 99 percent owned by Singapore-based DBS Bank -- channeled a bulk of its loans to the agriculture (including crude palm oil and rubber), mining (mostly coal) and manufacturing sectors.

"But we are also boosting our loans to the retail and consumer sectors, in addition to those big corporations." (iwp)

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