Bank BJB targeting 14% growth of its financing in 2017

News24xx.com - Publicly listed lender PT Bank Pembangunan Daerah Jawa Barat (Bank BJB) is targeting to see a 14 percent growth in its financing business this year.

The lender, owned by the West Java provincial administration, is eyeing to finance a slew of infrastructure projects developed by the government across the country.

“Our financing grew 13 percent in the first quarter of 2017,” Bank BJB president director Ahmad Irfan said at a media gathering in Jakarta on Monday, adding that his company was on the right track to achieve its target.

Bank BJB loans disbursed in the first quarter were largely intended to finance several sectors, including micro credits, infrastructure credits, consumer credits and mortgages.

Currently, the lender is involved in financing the development of Kertajati Airport in Majalengka, West Java, and the Light Rail Transit in Palembang, South Sumatera — two infrastructure projects constructed by the government, Ahmad added.

He also revealed his company’s plan to issue bonds, the proceeds of which, among others, would be used for business expansion.

“We hope that at least in the third quarter of 2017, we will be able to issue the bonds,” Ahmad said.