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BNI-NY books $1.37m on loan business

State-owned PT Bank Negara Indonesia’s (BNI) New York branch has booked net profits of US$1

Hyginus Hardoyo (The Jakarta Post)
New York
Tue, September 25, 2012

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BNI-NY books $1.37m on loan business

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tate-owned PT Bank Negara Indonesia’s (BNI) New York branch has booked net profits of US$1.37 million from credit issued in the first eight months of this year, up from $871,000 in the same period in 2011, a branch official says.

BNI New York manager Mohammad Yudayat said that the lender generated income from significant US-based companies and Indonesian business players striving to penetrate the US market.

Yudayat made his remarks in New York on Sunday before the start of the high-profile Indonesia Investment Day at the New York Stock Exchange on Monday.

The event was arranged by the Indonesian Embassy in Washington, DC, the consulate general in New York, the nation’s permanent UN representative, the representative office of Bank Indonesia in New York, the Indonesian Investment Promotion Center in New York, the New York representative office of state-owned Bank Rakyat Indonesia and BNI New York.

The event is Indonesia’s first high-profile investment promotion push aimed at big companies listed on the New York Stock Exchange.

President Susilo Bambang Yu-dhoyono opened the event by ringing the bell at the New York Stock Exchange Euronext to mark the start of trading.

Yudayat said that Bank BNI New York’s major customers taking part in the event could be classified into three groups.

The first group, he said, comprised local companies issued export-import financing and total outstanding credits of $27.6 million.

Yudayat, who was accompanied by BNI New York’s head treasurer Irzal Yulian Pribadi, said that out of the credits, $7.8 million was loaned to Global Airtech, which supplies aircraft spare parts, and Golden Nest, which produces swallow nest beverages.

Global Airtech and Golden Nest are new Bank BNI New York customers that were approached in the last two years.

The second group comprises firms given about $10 million in inter-country financing from a major oil company from Indonesia, Medco Energy, he said.

The third group comprised 16 firms given syndication financing valued at $104 million, including financing for five companies: Verifone, Omnicare, RPI Finance Trust, Jazz Pharmaceuticals and Oxbow Carbon, Yudayat said.

“The five received financing from BNI New York worth $37 million, with agreements reached in 2012,” according to Yudayat.

BNI New York managed to book total lending of $142 million from the three groups of customers as of Aug. 31, which was a major source of the $7.1 million in profits that the branch booked as of Aug. 31.

Irzal said that BNI New York recorded assets of $288 million as of Aug. 31 this year, up 27.83 percent from $225 million in the same period last year.

BNI New York is one of five overseas branches of BNI. The other four are located in Hong Kong, Singapore, Tokyo and London.

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