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Bank Ekonomi Partnership with Bank Andara to Funding Micro Financial Sector

Tue July 3,2012

Jakarta, 3 July 2012 – PT Bank Ekonomi Raharja Tbk (Bank Ekonomi) and PT Bank Andara (Bank Andara) today at Plaza Bapindo, Jakarta, sign a credit facility agreement. The Loan Facility provided by Bank Ekonomi to Bank Andara worth IDR 50 billion to be paid in 1 (one) year term, which will be disbursed by Bank Andara to fund credit for Micro Finance Institution (MFI).


About the partnership, Tony Turner, President Director PT Bank Ekonomi Raharja Tbk explained, “This credit facility is a form of cooperation between Bank Ekonomi and Bank Andara to finance credit for MFI with capital conditions that according to Bank Andara’s business. Bank Andara and we share the same vision and mission, to assure that our banking activities are fully support the development of small & medium businesses across Indonesia”


“The loan facility is evidence of our commitment to take notice on national micro finance sector, hopefully it will improve more construction of people of Indonesian in many sectors,” Tony added.


At the same event, President Director Bank Andara, David Yong said that Bank Andara main focus is to be a strategic partner who will fully support on micro finance sector in Indonesia by providing loan and technology services for MFI like Rural Bank, Cooperative and other form of MFI.


“Micro finance is one of Indonesia’s big finance sector which reach people all the way to small village. Nevertheless, still many of the small village residents don’t have access to financial services to help expanding their business. Credit facility from Bank Ekonomi will increase our credit portion to MFI, especially entering the peak season of credit distribution in mid 2012. We completely ready to fulfill credit request from many MFI to increase their capital needs so that they will be able to elevate capacity and services to the unbanked people” David added.    


Bank Andara’s MFI clients spread in many regions of Indonesia, this year Bank Andara’s client coverage is also targeting domestic fund other than MFI. “Cooperation with Bank Ekonomi underlines our confidence in the positive development of our strategy in national market. We see the need to explore more of domestic fund because our business model to serve low income and unbanked people is potential to obtain many supporters in the market. In the long run our goal is to increase economic welfare of people all over Indonesia”, David stated.