On 6th June 2014, Mutiara Bank and Andalan Finance Indonesia (AFI) agreed to extend their strategic partnership following the signing of a cooperation agreement on credit facility, at the Mutiara Bank headquarters in Jakarta. The extension of this partnership will involve the further distribution of credit facility amounting to 100 billion IDR, bringing total loans disbursed by Mutiara Bank to AFI to 230 billion IDR. During the signing event, Mr Sebastian H. Budi as President Director of AFI explained that Mutiara Bank had become one of his company’s strategic partners in supporting efforts to reach 2014 goals such as 30% growth for the financing business.

In addition to working with AFI, Mutiara Bank disburses funds to another 34 multifinance firms that together account for 27.5% of the bank’s loan portfolio, with total loans currently standing at 10.2 trillion IDR. By working with multifinance firms such as AFI, Mutiara Bank hopes to reach its 2014 loan target with the lowest risk-level possible.