In 2009, LFS was commissioned by the IFC to support a Microfinance Bank in Indonesia in its objective of becoming an efficient, large-scale MSME bank.
Bank Sahabat Purba Danarta is an MSME Bank headquartered in Semarang, Central Java. In 2007 the Bank was acquired by the Sahabat Group that injected capital into the bank, which was used for an expansion of the branch network, the purchase of new equipment, a 10-fold increase in the Bank’s overall loan portfolio, and a 3-fold increase in the small business credit loan portfolio. The Bank has 6 branches and about 300 staff. The objective of the assignment was:
Lending operations started in November 2009. As of 28 February 2011, MSE loans under the new methodology were extended in 4 branches by 45 Loan Officers. The project ended in March 2011.