BII to issue over 2 trln rph in bonds

JAKARTA - PT Bank International Indonesia (BNII.JK) and its automobile financing unit PT WOM Finance (WOMF.JK) aim to raise over 2 trillion rupiah ($221.4 million) through domestic bonds issues this year to fund their expansion plans.
Malaysia's Malayan Banking Bhd (Maybank) (MBBM.KL) owns a majority stake in BII.

The mid-sized bank aims to raise more than 1 trillion rupiah of bonds, Stephen Liestyo, a BII director told Reuters on Sunday. He said the timing was still being decided.

The bank's financing unit would use a bond issue of 1 trillion rupiah to increase its loans for vehicle purchases, he added.

"The bonds will strengthen our capability to expand our loan growth by up to 20 percent this year," Liestyo said.

($1= 9,032 Rupiah)