JAKARTA, May 29 (Xinhua) -- Standard Chartered Bank Indonesia, one of the biggest foreign bank, is targeting to increase its credit to small medium business (SMB) by 90 percent this year in an effort to grow its market share, an official said on Friday.

    The bank would focus on manufacture and trading companies that have been well-established and have revenue 100 to 250 million rupiah (about 9.7 to 24.7 million U.S. dollars).

    "SMB contributes 18 percent to Stanchart Indonesia's revenue annually. Our parent company set the highest growth from this segment," the company's Vice Corporate General Manager Small and Medium Enterprise Tonny Timor Basri told the press, declining to elaborate the figures.

    Tonny added that Stanchart was very serious in developing SMB segment, not only in Indonesia, but worldwide too.

    The company's Senior Manager Corporate Affair Arno Kermaputra said that the focus was a part of the business strategy of a better Indonesia's economic growth.

    "Banking industry will contribute much to Indonesia's economic growth of 4 percent targeted by the government which will be pushed by investment and trading," he said.

    In the first quarter of this year, the company booked 68 percent growth, prompted by credit growth in plastic and chemical industries that have been focusing on the domestic market.

    "They made products for food industry like packaging products," said Tonny.

    Stanchart Indonesia is the Stanchart Bank's unit that listed in London and Hong Kong Capital Market. The parent company is included in the top 25 of FTSE-100 based on market capitalization. In 2008, the company posted revenue increase of 26 percent to 13.97 billion dollars with pre-tax operating profit hike of 13 percent to 4.57 billion dollars.

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