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Jakarta Post

Mayapada aims for double-digit growth in MSME financing

  • Made Anthony Iswara

    The Jakarta Post

Jakarta   /   Thu, May 16 2019   /  02:50 am

Private lender Bank Mayapada plans to further increase its lending to micro, small and medium enterprises (MSMEs) to further expand its lending portfolio to the country’s overall business activities. The lender’s business director, Andreas Wiryanto, said the bank planned to achieve double-digit growth in its lending to the MSMEs so that the bank could gradually fulfill the requirement to allocate at least 20 percent of loans to MSMEs. The trade sector currently dominates its loan disbursement, as those provided to MSMEs remain below 5 percent, he said following the bank’s annual shareholders meeting.“We will use our bank networks across Indonesia and use the references in their retail funding to boost the sector […] We will then ask them to refer us to their trusted suppliers, helping them grow at the same time” said Andreas, who said Mayapada had 216 branches across Indonesi...