JAKARTA: PT CIMB Niaga Tbk booked a 10% growth in credit disbursement for corporations in the first half of the year, compared to IDR32 trillion in 2010.Through June, our corporate credit has reached more than 50% of this years target, said CIMB Niaga Vice President Catherine Hadiman on Wednesday after signing an agreement with Sungai Budi Grup in Jakarta.CIMB Niaga targets that corporate credit will grow by 17% to 20% in 2011, said Catherine. In 2010, the bank posted corporate credit at IDR32 trillion.The bank is focusing on disbursing supply chain, she said. CIMB has disbursed credit more than IDR1 trillion for the sector, and it is expected to reach IDR4 trillion this year.In its efforts to achieve the target, CIMB Niaga disbursed financing to many companies, including Sungai Budi Group that produces and distributes agricultural products. The agriculture company has subsidiaries PT Budi Acid Jaya Tbk and PT Tunas Baru Lampung TbkIn the meantime, Sungai Budi Group will use the fund to finance supply of fuels, coal and fertilizers, said Chief Financial Officer Sudarmo Tasmin. The value may surpass IDR100 billion.CIMB Niaga earlier has also disbursed loan to PT Modern Putra Indonesia, the franchise owner of chain store Seven Eleven. The bank, as Catherine added, plans to disburse more supply chain financing with several corporations in mining, oil palm, manufacture, and energy. (01) (t04/msw)

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