UOB Strengthens Support for Small and Medium Enterprises in Indonesia

Jakarta, 5 November 2012 – PT Bank UOB Indonesia (UOB Indonesia) today announced plans to improve services and supports for small and medium sized business (SME) customers. The move aims to anticipate the growing need for funding for SMEs that continue to grow amidst economic growth in the country.

UOB Indonesia is set to invest in new technologies to streamline the process, including shortening loan application and approval times for SME customers. Last year, the UOB Group slashed processing time for customers in all regions in half by implementing a new S$ 5 million loan application.

Victor Lee, Head of Business Banking at UOB Group, the parent company of UOB Indonesia, said, “We acknowledge that SME business owners need to make swift decisions. Therefore, we hope to help our customers manage their business and working capital more efficiently by providing greater certainty in our access to funding."

Widjaja Hendra, Head of Business Banking at UOB Indonesia, said, “Planned domestic consumption and infrastructure spending will drive the economy and provide opportunities for SMEs to grow. With various efforts to improve services, one of which is enlarging the Relationship Manager team for SMEs, we aim to provide important support for customers to gain profit amid Indonesia's economic growth".

In the second quarter of this year, Indonesia's economy grew 6.4 percent driven by domestic consumption. In 2010 and 2011, Indonesia’s economy grew by 6.1 percent and 6.5 percent respectively.

"We estimate that many SMEs will need funding to purchase commercial vehicles and heavy equipment these years to expand their businesses. Apart from that, they also buy long-term assets, such as buying their own factories and commercial offices. With UOB's strong balance sheet coupled with in-depth knowledge of the local business situation, we are ready to serve our customers with the financing and expertise needed to explore the existing market opportunities and develop the business into a bigger business," said Widjaja.

UOB brings financial services closer to medium-sized businesses
The UOB Group established Business Banking division three years ago as a separate unit to serve the financial needs of small and medium sized enterprises.

Since then, UOBI has assigned Relationship Managers in almost all branches in order to bring services closer to small and medium scale customers. This effort does not only aim to bring convenience of customers but also allows Relationship Managers to build closer and longer lasting relationships with customers around the branch.

“With our extensive branch network throughout Indonesia, small and medium scale business owners can visit any UOB branches to enjoy services for their business financial needs, from cash management to financing options. This approach to Business Banking demonstrates our commitment to the local communities and the customers we serve, " said Widjaja.