From Government of Indonesia

BCA to Extend Up to $1.1b in Loans

Bank Central Asia (BCA) is planning to extend up to Rp10 trillion ($1.1 billion) worth of loans this year, some Rp4 trillion of which would be allocated to corporations, vice president Jahja Setiaatmadja said.

The loans would be provided through the withdrawal of funds in Bank Indonesia short-term promissory notes (SBI), Antara reported on Thursday (12/4/07).

The bank's loans in 2006 grew 13.5% to Rp61.4 trillion, with corporate loans growing 19% to Rp23.9 trillion.

Commercial loans and loans for small and medium businesses meanwhile rose 16.1% to Rp29.2 trillion but consumer loans dropped 4.9% to Rp8.5 trillion, caused by a decline of 40.9% in motor vehicle loans to Rp2.5 trillion.

The bank's housing loans grew 23.9% to Rp4.4 trillion while the value of the bank's credit cards grew 34.3% to Rp1.6 trillion.

On December 31, 2006, commercial loans and loans for small and medium businesses reached 47.4% of the bank's total loans, while corporate credits contributed 38.8% and consumer credits 13.8%.

BCA and Bank Mandiri are currently forming a syndicate to distribute credits for the Jagorawi-Cinere toll road development. They plan to extend Rp1.461 trillion for the project, with BCA’s contribution totalling Rp584 billion.

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