Danamon eyeing the trade finance to increase 50%

JAKARTA: PT Bank Danamon Indonesia Tbk targeting the trade finance credit growth up to 50% next year.The growth target is in line with the increase of cross country trade transactions that estimate to increase in 2011."We are targeting the trade finance
Wandrik Panca Adiguna
Wandrik Panca Adiguna - Bisnis.com 15 Desember 2010  |  11:58 WIB

JAKARTA: PT Bank Danamon Indonesia Tbk targeting the trade finance credit growth up to 50% next year.The growth target is in line with the increase of cross country trade transactions that estimate to increase in 2011."We are targeting the trade finance business credit to grow aggressively or be able to touch a significant growth figure next year," said Margaret Tjahjono, Trade Product Management Head of Bank Danamon, in todays meeting.He said that currently the trade finance business contributed 10% of the total corporate credit and its composition is expected to continue rising. He revealed that in order to support the growth of trade finance, Bank Danamon will direct its realization in the productive sector."Business credit target of trade finance depends on it contract usually amounting to 80 - 85% of the contract. And we're optimistic that this credit will continue to grow considering its small risks," he said.Director of Bank Danamon Herry Hykmanto valued the condition of the country's economy that supports, and strong banking sector within the country as well as the increase of commodity prices grew the optimism for the company to continue to develop trade financing particularly for international trade or import-export."It will be good next year. The trade finance products will be more competitive. As for the price, it depends on the product, the buyer or counterparts country and its rating. If its good then we will give a competitive price," he said. (t06/wiw)

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