Mayapada helps military retirees

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Publicly-listed Bank Mayapada Internasional will allocate up to Rp 100 billion (US$10.6 million) in loans to small businesses owned by members of the association of Indonesian military retirees (Pepabri).

Mayapada’s president director Hariyono Tjahjarijadi said that the loans would be extended to Pepabri members to help them expand their businesses. “The loans will be given to members of Pebabri who run feasible business activities,” he said after the signing of the loan agreement.

In addition to the loan agreement, Bank Mayapada also agreed to provide scholarships worth Rp. 2 billion to children of Pepabri members who have a good educational record.

“We have launched retirement savings products and loans for small businesses. With the new agreement, the process for Pepabri’s members to apply for funding for their micro enterprises will be more organized,” he said.

Hariyono said Mayapada was planning to provide loans with a tenure of approximately three years, but declined to give further details, adding the bank would have further talks with Pepabri to discuss the small print of the agreement

Pepabri chief, Agum Gumelar, who signed the agreement with Mayapada’s director, applauded the new MoU, saying Pepabri members should not “take it for granted”.

As of June 2012, Bank Mayapada has total assets of Rp 13.8 trillion. The bank’s net profits rose to Rp 189 billion, a 50 percent increase from the same period last year. In 2011, the bank booked net profit of Rp 171.2 billion.

The bank currently has a total of 171 offices across 61 cities in 19 provinces in Indonesia.

During the ceremony, Pepabri’s chief appointed Dato Sri Tahir, the bank’s majority owner as a honorary member of the association. (asa)