Tue, 28 Jul 2009
From:
JAKARTA, July 28 (Xinhua) -- The Hong Kong and Shanghai Banking Corp. Ltd. (HSBC), the world's third-largest bank, is committed to support small and medium business (SMBs) in Indonesia, providing credit to the sector more than requirement of the Bank Indonesia (BI), the central bank, an official said on Tuesday.

Steve Miller, the HSBC Indonesia's head of banking business, said that the bank has been providing fund, training and education to Indonesia's SMBs to support their growth.

"We provide credit more than 25 percent of our credit commitment to SMBs, more than the central bank's requirement. This is our commitment to support SMBs, not only in Indonesia, but all around the world. The sector contributes much to the economy, even in the hard times," he said.

Zulfi Karim, a deputy with the Association of Indonesian Young Businessmen (HIPMI), said that 91 percent Indonesian workers were absorbed by the sector and the rest was taken by big corporations.

"The SMBs contributes 55 percent to the Indonesia's gross domestic product (GDP). This is a significant number," said Zulfi.

According to the latest survey by the bank, more than 80 percent of SMBs in Indonesia intended to increase their capital in the second half this year, reflecting optimistic view on the country's economic prospect.

The survey also showed that 60 percent of Indonesia's SMBs were optimistic on the country's GDP growth with 17 percent of them expected growth above four percent.



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