BNI PREDICTS 2008 EXPORT TRANSACTIONS AT US$4 BILLION

Jakarta, Dec 11 (ANTARA) - State-owned PT Bank BNI has predicted that its export transactions will reach US$4 billion this year, BNI's director for treasury and international affairs Bien Subiantoro said.

"Our export transactions last year were valued at US$3.9 billion. We hope it would reach US$4 billion this year," Subiantoro told a press conference on Wednesday.

He said that BNI's average export transactions were stable and showed an upward trend, which reached US$300-US$400 million a month.

BNI at present is only providing financing for foreign currencies trade activities, Subiantoro said.

"In connection with the global financial crisis, BNI has been involved in financing foreign currencies trade activities only. We are compelled not to provide assistance for foreign currencies investment or working capital, particularly companies which have no underlying foreign currencies cash flow," he said.

Previously, BNI provided financing 50 percent for foreign currencies trading activities and 50 percent for working capital.

In financing foreign currencies transactions BNI funds came from the third party funds amounting to US$2.1 billion and inter-bank lending US$700 million so that the total amount of its foreign currencies facilities reached US$2.8 billion.

"Of the US$700 million from correspondent banks included US$100 million from the US Wachovia Bank," he said.

With the US$100 million from Wachovia Bank, Subiantoro hoped that BNI's export transactions this month would increase.***2***