Danamon targets credit growth at 20% in 2010

JAKARTA: The country's sixth largest bank in term of assets, Bank Danamon predicts its credit portfolio may grow by 20 percent next year, given the favorable economic environment expected in 2010.

Danamon chief financial officer Vera Eve Liem said Thursday that all line businesses would contribute to the growth in outstanding loans next year. She refused to elaborate. As of September, the bank disbursed Rp 62 trillion (US$6.57 billion) in new loans.

Head of investor relations I Dewa Made Susila said this year's credit growth would be relatively flatter than in 2008, when outstanding loans stood at Rp 66.9 trillion. - JP/Ika