NISP to open 30 new branches<\/p>\n
Evi Mariani
\nThe Jakarta Post
\nJakarta<\/p>\n
Mid-sized Bank NISP said it would open more than 30 new
\nbranches in Java, Sumatra, Sulawesi, Bali and Kalimantan this
\nyear in a bid to boost its retail operation.<\/p>\n
"We haven't established offices in Kalimantan and Sulawesi. So
\nwe will establish about 10 offices in each. We expect to complete
\nthe project in the third or fourth quarter," NISP president
\nPramukti Surjaudaja told The Jakarta Post on Thursday following a
\nshareholders meeting.<\/p>\n
In March 2003, NISP, whose headquarters are located in
\nBandung, West Java, had 100 branch offices in Java, Sumatra and
\nBali.<\/p>\n
The publicly-listed bank focuses its business on providing
\nloans to small and medium-sized businesses, which account for
\naround 70 percent of its loan exposure.<\/p>\n
"This year, we have targeted a 20-30 percent increase in
\nlending," said Ferdinand Dion, an officer at the bank's corporate
\ncommunications.<\/p>\n
According to its financial report, in 2002 its net loans
\ntotaled Rp 6.2 trillion (about US$740 million).<\/p>\n
In the first quarter of this year, NISP increased its lending
\nby 49 percent to Rp 6.29 trillion from Rp 4.23 trillion in the
\nsame period last year.<\/p>\n
In the shareholders meeting, the 62-year-old bank also
\nreported a 29 percent increase in 2002 net profit to Rp 92
\nbillion from Rp 71 billion in 2001.<\/p>\n
Shareholders approved the management proposal to allocate 21
\npercent of the 2002 net profit as dividend.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/nisp-to-open-30-new-branches-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}