BNI to open branches in S. Korea, Myanmar

26 January, 2015 | Source: ANTARA NEWS

Jakarta (ANTARA News) - PT Bank Negara Indonesia (BNI), the countrys fourth largest bank in assets, said it would open branches in South Korea and Myanmar this year.

"Proposal for the opening of the branches in South Korea was already submitted late last year and proposal for one in Myanmar was already made a year earlier," Gatot M. Suwondo, president director of the publicly traded state lender said here on Friday.

Gatot said expansion to the two countries is included in the banks business plan as reported to the shareholders.

"We focus expansion to the two countries. Later we will open another branch in Malaysia," he said.

He said it is not easy to open a branch abroad as "we have to follow the regulation of the destination country."

BNI, therefore adopts the strategy of "based on related business", that BNI is ready to serve Indonesian business people seeking expansion abroad, he said.

"At the same time we hope to encourage foreign investors from the foreign country to do business in Indonesia," he added.

The unit to be opened in South Korea, will be a full branch as requested, but the one in Myanmar could not be directly to operate as full branch.

"In South Korea apart from facilitating investors BNI also will serve Indonesian migrant workers. In Myanmar, BNI wants only to help promoted investment cooperation between the two countries," Gatot said.

The plan to open a branch in Malaysia is yet to be proposed, he said.

Opening a subsidiary in Malaysia is required to have a capital of at least Rp1 trillion.

 

Indonesia must be strong and its economy must grow well, so that it would not be bullied or made fun of, Foreign Minister Retno Marsudi stated in front of students of the Law Faculty of Pancasila University here on Thursday.
Indonesian oil and gas company Pertamina and Omani company Overseas Oil & Gas (OOG) here on Monday expressed commitment to developing the Grass Root Refinery (GRR) project or constructing a new refinery in Bontang, East Kalimantan.
Member countries of the Association of Southeast Asian Nations (ASEAN) are expected to open their markets for startup companies from the region, especially unicorn startups, to boost development of the regional digital economy.
Indonesia, through the Ministry of Trade, is seeking to expand markets for its crude palm oil (CPO) products and derivatives to new export destinations in the Middle East, South Asia, and other regions.
North Maluku Cultural Heritage Preservation Agency (BPCB) explored the legacy of prehistoric rock art in the form of hand-drawn paintings and other motifs on walls of caves on Kisar Island, Southwest Maluku District, Maluku Province.
Executive Director of the BI Communication Department Agusman said that Indonesia`s national economy posted solid growth in the third quarter of 2018, namely 5.17 percent (yoy), on the back of domestic demand.
Address: 1068 Budapest, Városligeti fasor 26. | MAP |
Phone: (+36-1) 413 3800 Fax: (+36-1) 322 8669
E-mail: embassy@indonesianembassy.hu