BRI set to expand credits

State-owned lender Bank Rakyat Indonesia (BRI) is planning to expand credits to small- and medium-sized enterprises (SMEs) by 20 percent next year, bank president Rudjito said on Thursday.

Currently, the bank's lending exposure to SMEs accounted for around 86 percent of its total credit of Rp 55 trillion, Rudjito said, making it the largest player in the micro-credit sector.

He confirmed the bank was waiting for approval from the ministry of finance about its proposal to write off SME debts amounting to Rp 500 billion.

The figure was among the 13.5 trillion worth of SME debts that are being considered for write-offs by the ministry . -- JP