Mandiri sees micro-credit reaching Rp 1.85 trillion by year-end

Bank Mandiri aims to disburse Rp 1.85 trillion (approximately US$205.3 million) in micro-credit loans by the end of this year, to accelerate economic growth through micro businesses, an executive said in a statement.

Of the targeted Rp 1.85 trillion this year, the largest bank by assets has disbursed Rp 1.77 trillion so far this year, or 96 percent of the total target, president director Zulkifli Zaini said Thursday.

“We are optimistic that the Rp 1.85 trillion micro credit disbursement in 2010 will be surpassed, given that Bank Mandiri is currently having several debtors to borrow before year-end,” he said in a statement.

Director of commercial and business banking Sunarso said that most of Mandiri's micro credit, or 51 percent, went to the agricultural and poultry sectors, with the amount of debtors reaching 42,000. Meanwhile, nearly 39 percent was disbursed to the trade sector, received by over 12,500 debtors.

Since 2007, Mandiri has disbursed Rp 3.02 trillion in micro credit loans up to Dec. 10. Mandiri's overall lending reached Rp 231.85 trillion as of the third quarter of this year, a 23.1 percent growth compared to the same period last year. (est)