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Bank of Tokyo-Mitsubishi UFJ, which with a partner recently
acquired a local bank, is expected to prioritize lending to small and
medium enterprises (SMEs), a minister says.
"I've asked Bank of Tokyo officials to prioritize the bank's lending to
local businesspeople operating SMEs," Coordinating Minister for the
Economy Boediono said here Monday after meeting with bank officials.
The bank officials were led in the meeting by president and chief
executive officer Nobuo Kuroyanagi.
Last December, Bank of Tokyo, along with Japan-based financial services
company Acom Co., acquired a 75.41 percent share of Bank Nusantara
Parahyangan, which is headquartered in Bandung, West Java.
Acom owns 55.41 percent of Bank Nusantara shares, while Bank of Tokyo
owns 20 percent.
Bank Nusantara commercial and operational director Nani Wirianti Sugata
said the acquisition was expected to boost the bank's performance in
terms of lending, particularly to SMEs.
In 2007, most of the bank's loans went to SMEs, making up around 66.36
percent of total loans, said Sugata.
Bank Nusantara, listed on the Indonesian Stock Exchange, has a total
capital of more than Rp 300 billion (about US$32.45 million).
Boediono said that judging by the acquisition, Bank of Tokyo was
interested in expanding its business in Indonesia.
"The bank seems optimistic about business here and the country's
economy. For us, the bank is crucial in attracting Japanese investors,"
he said.
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