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Jakarta Post

Bank Sinarmas to open branches in remote areas to extend customer reach

Ahmad F. Bayuny (The Jakarta Post)
Jakarta
Wed, May 10, 2017

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Bank Sinarmas to open branches in remote areas to extend customer reach Executives of Bank Sinarmas pose for a photograph after its annual shareholders meeting on May 9. (JP/Ahmad F. Bayuny)

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rivate lender Bank Sinarmas has announced a plan to open six to eight branches in remote areas of the country to extend its customer reach, to include micro, small and medium enterprises (MSMEs).

Bank Sinarmas president director Freenyan Liwang said among the new branches would be in Semitau, West Borneo; in Tual, Southeast Maluku, in Berau, East Kalimantan; in North Maluku and in Nabire, Papua.”

“We want to increase our credits for MSMEs to 15 percent from our total credit by the end of 2017, compared to 10.79 percent in 2016,” said Freenyan after the bank’s annual shareholders meeting.

(Read also: Bank Sinarmas to increase microlending)

He said the MSME credits among other things would go to cattle fattening and agriculture companies. The credits would also be distributed through the government-sponsored micro credit program (KUR) for Indonesian migrant workers.

He said the bank would maintain 10 percent credit growth in 2017, which it achieved last year.  

“We are grateful that in the [shareholders] meeting, the shareholders agreed to use Rp 370.15 billion of our revenues to strengthen capital,” he added.

He said the bank wanted to lower its gross non-performing loan (NPL) ratio to not more than 2 percent by the end of 2017 from 2.1 percent, last year. (bbn)

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