Tycoon Tanoesoedibjo aims to establish rural bank | Kontan 

(The Insider Stories) — Media and business mogul Hary Tanoesoedibjo, whose conglomerate’s business portfolio already include a 30% stake in small-sized commercial lender ICB Bumiputera, is considering establishing a rural bank for micro businesses, Kontan daily reported Monday.

The bank’s profit margin would be 50% lower than that of a regular commercial bank, he said over the weekend in a general lecture at the IAIN Walisongo Islamic school in Semarang, Central Java.

According to a central bank survey, small businesses pay annual interest rates of up to 30% compared with 8%-11% paid by large companies.

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