UOB to double corporate loans to firms expanding in Indonesia

This will be within the next 3 years.

According to a release, PT Bank United Overseas Indonesia (UOB Indonesia) announced plans to double its corporate loans to companies expanding into Indonesia within the next three years. 

UOB Indonesia has based its projections on the fast-growing volumes of foreign direct investments (FDI) into Indonesia and rising intra-regional trade flows.

FDI inflows in Indonesia, which are growing at a compound annual growth rate of 23.1 per cent, are among the highest in Southeast Asia Acceleration and Expansion of Indonesian Economic Development initiative which aims to transform Indonesia into one of the top five global economies by 2025.

The projection is also in line with the Government’s Master Plan for the Eric Tham, Managing Director, Group Commercial Banking, UOB Group said, “Indonesia is one of the most preferred destinations for Asian companies exploring expansion opportunities in the region. These companies see the potential they can harness from the country’s economic transformation and the development of new trade corridors, supported by increasing consumer demand from a rising middle class.” 

To help more companies realise this potential, UOB Indonesia announced it will introduce a dedicated FDI Advisory Unit in Indonesia.