BSM expects corporate financing grow 20% in 2011

JAKARTA: PT Bank Syariah Mandiri eyes a syndication of corporate financing to grow by 20% in 2011 from the estimated IDR720 billion this year.Director of Finance and Corporate of Bank Syariah Mandiri (BSM) Amran Nasution said the sharia bank is reviewing
News Editor | 01 Desember 2010 01:41 WIB

JAKARTA: PT Bank Syariah Mandiri eyes a syndication of corporate financing to grow by 20% in 2011 from the estimated IDR720 billion this year.Director of Finance and Corporate of Bank Syariah Mandiri (BSM) Amran Nasution said the sharia bank is reviewing cooperation on financing syndications to 6 companies in oil and gas sector, mining, shipping, infrastructure and power plan.Yet, Amran said that the bank has not decided the credit limit as it is still waiting for confirmation on fund utilization from the proposing companies.He revealed that the bank led syndications of corporate financing as much as IDR1.3 trillion this year, IDR600 billion of which is provided by BSM.We expect the syndication of financing next year will grow higher than this year. It is expected to grow by 20%. Meanwhile, the limit depends on clients' needs, he said yesterday.He said that telecommunication, mining, and energy sectors are among the priorities of corporate financing and syndication led by the bank.So far, the Nonperforming loans of syndicated financing remains 0%. We choose potential sectors for our syndicated financing, he said.Through October 2011, the total corporate financing of BSM reached IDR22 trillion, contributing 35% to total financing by BSM.I expect that by the end of the year, corporate financing will increase by IDR1 trillion to IDR23 trillion, he said.President Director BSM Yuslam Fauzi said that the bank targets that financing business will rise at least 25% in 2011. He added that the bank is preparing budget for next year's financing activities. (T04/NOM)

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Editor : Muhammad Fariz Aulia

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