Bank Dharmala gets loan

JAKARTA (JP): Bank Dharmala has signed a US$20 million term loan consisting of a series of offshore bilateral.

A statement Thursday said the facility was arranged by Deutsche Morgan Grenfell Ltd., of Singapore, with other lenders including bank Dagang Negara of Cayman branch, Deutsche Morgan Grenfell of Singapore, Indover Bank, Malayan Bank Berhad of Singapore, the Arab Banking Corporation of Singapore, and Bank Negara Indonesia (BNI) of Singapore.

According to the statement, Bank Dharmala would use the loans to finance its working capital in anticipation of lending activities growth in the Indonesian economy. (09)