CIMB Niaga’s micro loans surge 352% to $130.9M

CIMB Niaga's micro lending segment surged 352 percent last year to Rp 1.2 trillion or US$130.9 million from Rp 271.9 billion in the previous year.

Activities in the segment were coursed through a unit called Mikro Laju.

Handoyo Soebali, CIMB Niaga’s director of commercial banking, said that new products and additional units contributed to the surge, which is expected to support micro businesses expansion.

“To ease customers ability to reach this credit facility, Mikro Laju’s total of 233 units have been available in Java, Sumatra, Bali, Kalimantan and Sulawesi,” Handoyo said. “This year, we expect the number to continue increasing to 350 units.”

CIMB Niaga’s micro unit Mikro Laju offers savings and lending facilities, ranging from business, personal to educational use. CIMB Niaga provides two credit facilities for the unit with ceilings of up to Rp 50 million and Rp 500 million.

For the source o f this story, click here.