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BNI receives $50m loan from Wells Fargo
JAKARTA: State-run Bank Negara Indonesia (BNI), the nation’s third largest lender by assets, has secured US$50 million in bilateral loans from US lending giant Wells Fargo Bank
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J
AKARTA: State-run Bank Negara Indonesia (BNI), the nation’s third largest lender by assets, has secured US$50 million in bilateral loans from US lending giant Wells Fargo Bank.
The two-year loan from one of the top five US banks by assets and market capitalization will be used to strengthen the bank’s foreign currency liquidity and to fix the long and short-term financing composition, BNI said.
“The facility will be used especially to boost asset financing, such as trade finance and other assets with similar tenure at BNI’s London branch, as well as to fulfill the Financial Service Authority (FSA) liquidity regulation in England,” the lender said in a press statement sent to reporters on Monday.
Agreement of the bilateral loan facility had been signed in Denpasar, Bali, on Monday by BNI’s treasury and financial institution director Adi Setianto and Wells Fargo executive vice president and regional manager for Southeast Asia and India, Jones Castro, Jr. — JP
