Maybank expects Indonesian unit to grow loans by 20%

Bank Maybank Indonesia expects lending to grow by 20 percent this year, according to a top executive.

This rate would be less than the bank’s 25 percent loan growth in 2011.

Even though Maybank Indonesia’s loan growth is unlikely to surpass 2011’s figure, Maybank president/director Dato’ Sri Abdul Wahid Oma said the rate would be higher than its Malaysian parent’s lending growth target of 15 percent this year.

Maybank Indonesia’s total outstanding loans rose 25 percent to Rp 67.2 trillion or $7.5 billion in 2011 from a year earlier, slightly higher than the overall Indonesian banking sector’s growth of 24.6 percent.

Bank Maybank’s parent company also plans to reduce its ownership in the lender to comply with Indonesian regulations, says  Wahid.

He also said Bank Indonesia, the country’s central bank, had approved Dato’ Khairussaleh Ramli as president director of Maybank’s Indonesian unit.

Wahid wants Maybank Indonesia to capitalize on the nation’s growing economy and low interest rate environment.

“The overall economy in Indonesia will be very conducive for business to grow,” he said.

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