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With bright prospects predicted for 2007, a top Bank Niaga
executive says the bank plans to increase lending next year by 25
percent.
"The market will be growing well next year. We see it as a challenge to
increase our credit expansion by more than the market average of 20
percent," said Bank Niaga president director Hashemi Albakri bin Abu
Bakar, after attending the bank's shareholders meeting here Tuesday.
The central bank, Bank Indonesia, has predicted that bank lending next
year will likely grow by between 18 and 20 percent.
According to figures from Bank Indonesia, Bank Niaga is the seventh
biggest bank in Indonesia with total assets of Rp 41 trillion (about
US$4.5 billion) as of the end of January 2006.
Asked about where the money for the additional lending would come from,
he said that Bank Niaga has enough funds to cover the envisaged credit
expansion.
"If it continues to grow well, we may need fresh funds for 2008 and
2009. And also, if growth next year surpasses our target, then we might
turn to the bond market," he explained, "possibly to the tune of
between Rp 1 and 2 trillion, depending on market conditions."
During the meeting, the shareholders agreed to accept the resignation
of Peter B. Stock as the bank's president director and replace him with
Hashemi Albakri bin Abu Bakar, who was previously a deputy director of
the bank.
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