TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
BNI expands its global network, touches down in the Netherlands
PT Bank Negara Indonesia (BNI, stock code BBNI) continues to expand its overseas business performance as the global economic recovery strengthens.
Change Size
BNI president director Royke Tumilaar (left), Deputy State-Owned Enterprises Minister Kartika Wirjoatmodjo (second left), Indonesian Ambassador to the Netherlands Mayerfas (second right) and Indonesian Ambassador to Belgium and Luxembourg and the European Union Andri Hadi are seen at the opening of BNI Amsterdam on Tuesday. BNI's presence in Amsterdam is expected to improve business relations between Indonesia and the Netherlands, as well as with other countries in the European region.
P
T Bank Negara Indonesia (BNI, stock code BBNI) continues to expand its overseas business performance as the global economic recovery strengthens. As a development agency with the mandate to penetrate the global market, BNI continues to expand and optimizes its global banking performance by expanding its network to Amsterdam to capture the business potential in the European region post-Brexit.
This international branch bears the status of Amsterdam Representative Office as inaugurated by Deputy State-Owned Enterprises (SOEs) Minister Kartika “Tiko” Wirjoatmodjo. The opening involves the signing of an inscription as a symbol of the start of BNI's activities in Amsterdam.
Present in the ceremony were Indonesian Ambassador to the Netherlands Mayerfas, Indonesian Ambassador to Belgium and Luxembourg and the European Union Andri Hadi along with the head representative of Bank Indonesia Farida Warinangin. Also attending from BNI were president director Royke Tumilaar, treasury and international director Henry Panjaitan and corporate banking director Silvano Winston Rumantir.
Tiko said that BNI's presence in Amsterdam could improve business relations between Indonesia and the Netherlands, as well as with other countries in the European region.
The SOEs Ministry is also proactive in encouraging more SOEs to expand their business onto the global stage as a reference for other companies in Indonesia. The ministry also aims to optimize transactions and the value of outbound SOE investments and synergize SOEs to produce harmonious and integrated strategic policies. Currently, there are 17 SOEs operating overseas, with a total of 83 branches, subsidiaries or joint ventures in 26 countries.
"Representing the SOEs, we express our appreciation to BNI for being proactive in developing its business network overseas. The inauguration of the BNI Amsterdam Representative Office adds to the list of Indonesian SOEs that are going global," he said.
Tiko continued that amid the challenges facing the economic recovery after the COVID-19 pandemic and the impact of the Russia-Ukraine war, the European Union and Indonesia remained strongly committed to promoting economic cooperation.
Indonesia-EU trade has continued to increase in the past year, with a trade surplus against Europe reaching almost 9 billion euros or around Rp 159 trillion. Even in 2021, the value of Indonesia's exports to the European Union jumped 26 percent to reach 16.5 billion euros.
In addition, negotiations on the Comprehensive Economic Cooperation agreement between Indonesia and the European Union (IEU CEPA) have also been carried out and important agreements have been reached, including on trade in goods and services, trade and sustainable development, economic cooperation and increasing security and investment.
"We are fully confident that the presence of the BNI Office in the European continent will be a catalyst for increasing economic and trade cooperation between Indonesia and the European Union and can encourage even greater investment into Indonesia from the European Union," he added.
President director Royke said BNI is set to target the post-Brexit European market. The volume of trade transactions especially exports and imports between the Netherlands and Indonesia is quite large, including the flow of foreign direct investment to Indonesia, as well as the potential for Indonesia-related businesses and Indonesian group companies.
"We hope that Amsterdam can become one of the strategic operational areas in the future so that we can increase our role as BNI's global bank from Indonesia, actively encouraging direct investment in Indonesia while increasing the various economic potentials of the diaspora abroad," he said.
Royke added that the Indonesian diaspora community is a great potential business niche in BNI’s international business ecosystem in which BNI has the widest overseas network extending to Singapore, Hong Kong, Tokyo, London, New York, Seoul and now Amsterdam.
It is estimated that there are 600,000 potential diaspora business players in the Netherlands, where 1.7 million Indonesians live. They can become the source of Indonesian economic strength, especially given the amount of remittances to Indonesia. The city of Amsterdam alone could become the background for BNI’s expansion of its overseas network as a European economic and international trade center.
BNI’s services to the diaspora include the Diaspora Saving account, which does not require going to a BNI branch, but through the BNI Mobile Banking platform. BNI overseas also provides trade finance transaction services, bank guarantees and other services. For the diaspora who want to develop their businesses, BNI also provides a financing scheme through Diaspora Lending.
This expansion effort is inseparable from collaboration with digital-based counterparts abroad, including fintech, e-commerce and transaction platforms such as blockchain and others. The synergy is expected to reach more of the diaspora easily, efficiently and cost-effectively.
"In the future, we will continue to expand and add networks in other potential areas. BNI implements a capture the flow strategy in determining the location of overseas branches. We consider the volume of trade transactions, the amount of investment into Indonesia, the number of Indonesia-related companies and the Indonesian diaspora size. We hope that BNI's international network can help Indonesian entrepreneurs who want to expand their business abroad, as well as becoming a gateway for foreign entrepreneurs to enter Indonesia," Royke concluded.
