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mall lender Bank Index Selindo obtained fresh funds worth of Rp 290 billion (US$21.95 million) following a recent share acquisition by private equity firm Creador.

After the acquisition, the lender is now 56 percent owned by PT Khazanah Indexindo, 20 percent controlled by Creador and 19 percent controlled by PT Asseta Selindo. The remaining shares are held by other minority shareholders.

In a press briefing held on Tuesday, Index president director Charlie Paulus said that the capital injection had boosted its tier-1 capital to around Rp 900 billion. '€œIt will enable us to disburse more loans as well this year,'€ he said.

The bank aims to post 32 percent lending growth and a 24.5 percent increase in its third-party funds (DPK) this year. Data from the bank shows that its outstanding loans amounted to Rp 4.56 trillion, while its DPK reached Rp 5.22 trillion last year.

Index commissioner Joko Setiawan said that it hoped to enter the BUKU II list of lenders'€”with tier-1 capital ranging from Rp 1 trillion to Rp 5 trillion'€”in 2016. It is also mulling going public in 2017 by releasing around 20 percent of its enlarged shares in an initial public offering.