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Jakarta (ANTARA News) - Jakarta city-owned Bank DKI is set to issue bonds worth Rp750 billion in September to finance its credit expansion.

"The public expose will be held in mid-August," Ronny Wijayanto, head of the bank`s secretarial division, said here on Thursday.

He said the bank was in the middle of securing approval from the Capital Market and Financial Institutions Supervisory Board (Bapepam-LK) to issue the bonds.

The 5-6 year bonds will be the sixth to be issued by the bank.

Bank DKI has appointed PT Mandiri Sekuritas as a bond issue underwriter. The bank has set the target of credit growth for 2010 at 20 percent, equal to the average national target.

In the first half of 2010, the bank channeled credits totaling Rp7.29 billion compared to Rp6.7 trillion in the same period last year.

He said 60-70 percent of the credits constituted commercial credits and the rest was corporate, sharia and small and medium business credits.

Meanwhile, the amount of third party funds raised in the first semester of 2010 was Rp13.96 trillion, a 19.6 percent increase compared to the same period last year.

The bank said its gross non-performing loans (NPLs) in the first six months of 2010 fell to 4.05 percent from 5.75 percent a year earlier, while net NPLs dropped to 1.48 percent from 2.63 percent.(*)

Editor: Heru
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