PT Bank Tabungan Negara (Persero) Tbk or BTN noted that the distribution of business capital loans for micro, small and medium enterprises (MSMEs) had reached IDR 2.84 trillion as of June 2024.
President Director of BTN Nixon LP Napitupulu said the total distribution of business capital loans for MSMEs grew by around 33.3 percent compared to the same period the previous year.
Nixon said the increase in business capital credit distribution was in line with the increase in business actors who received BTN MSME loans, which grew by 98.75 percent on an annual basis.
"Of the total business capital loans, IDR 797.8 billion was distributed to People's Business Credit (KUR) and IDR 2.04 trillion for MSME Loans", Nixon said in an official statement, Wednesday, July 31.
As of June 2024, continued Nixon, BTN's KUR growth reached 17.2 percent from the same period the previous year. Meanwhile, MSME loans jumped 40.8 percent on an annual basis.
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Furthermore, Nixon said, BTN continues to increase the distribution of MSME loans by targeting, especially in business sectors that grow due to the multiplier effect of the housing ecosystem.
"To support this, BTN has transformed and digitized the MSME credit process, namely improving services and facilitating credit access to MSMEs," he explained.
Nixon also said BTN supports MSMEs to continue to grow and advance to class, with quality and on target lending, Nixon added.
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