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Jakarta Post

Bank Jatim to use Rp 1t from IPO for SME loans

  • The Jakarta Post

  /   Fri, July 13 2012   /  09:10 am

PT Bank Pembangunan Daerah Jawa Timur (Bank Jatim), which began trading on the Indonesia Stock Exchange (IDX) of Thursday, says its lending in the first half has reached 94 percent of its full-year target.

Bank Jatim president director Hadi Sukrianto said that the bank’s total lending touched Rp 18 trillion (US$1.9 billion) in the first half of 2012, up 12 percent from the same period last year, which was attributed to strong demand from small and medium enterprises (SMEs).

“Although we have reached a significant milestone in the first half of the year, we will not increase our year-end target of Rp 19 trillion,” Hadi said at the IDX on Thursday. “Our SME credits were about 83 percent of our total lending.”

Bank Jatim was formally known as the East Java Regional Development Bank and was founded in 1961 in Surabaya, East Java. It reported Rp 16 trillion in ...