Mandiri disburses over Rp 12 trillion in telcom loans in 2010

Bank Mandiri disbursed Rp 12.16 trillion (US$ 1.35 billion) in loans to the telecommunications sector throughout 2010, a 20 percent increase compared to the Rp 10.16 trillion it lent in 2009, the lender said in a statement on Wednesday.

Supriyusman, executive vice president of corporate banking at Mandiri, the nation’s largest lender by assets, said in the statement that the bank saw growth potential in the nation’s telecommunications sector because “telecommunications are a facility that’s really needed to support a number of activities.”

Indonesia is home to over 230 million people whose needs for telecommunications continue to grow, supported by the presence of 11 telephone providers in the world’s fourth most populous country.

“Indonesia is geographically very unique with a huge population spread across several regions, all needing good telecommunications infrastructure. Low penetration, especially for the Internet, shows great expansion opportunity for the industry,” Supriyusman said. (est)