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BNI Amsterdam branch could generate US$5.47 billion in trade
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Indonesian handicrafts are expected to attract investors to Indonesia. (Photo: Zul Trio Anggono)
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span style="mso-ansi-language:EN-US">PT Bank Negara Indonesia (stock code BBNI), or BNI, has the potential to earn profits of US$5.47 billion through its newly opened representative branch in Amsterdam.
Indonesian ambassador to the Netherlands Mayerfas expressed appreciation to the state-owned publicly listed lender for opening its Amsterdam representative office as part ofa strategy to expand its global network.
The ambassador said that trade between the Netherlands and Indonesia totaled $5.47 billion in 2021, with Indonesian exports reaching $4.63 billion to book a trade surplus of $3.78 billion, an increase of 64 percent compared to 2020.
“This is because the Netherlands is the gateway for Indonesian products to enter the European Union,” he said, adding that Indonesia had also received investments from Dutch investors, which demonstrated the strength of the two countries’ relationship.
Mayerfas also said around 1.7 million people in the Netherlands had a historical connection to Indonesia, providing an opportunity for BNI to develop and strengthen the Indonesian economy.
“BNI made the right move, especially since the Indonesian Employers Association [Apindo] has around 500 to 600 members here,” he said. “We believe that BNI’s presence can support the [Indonesian] diaspora to play a role in encouraging economic transactions.”
BNI corporate secretary Mucharom said that opening a representative office in the Netherlands was one of the company's efforts to expand its overseas business performance and follow the trend in global economic recovery.
The high volume of trade between the Netherlands and Indonesia, the inflow of foreign direct investment (FDI) to Indonesia, and the potential for business activities related to Indonesia were the reasons for BNI to establish a presence in Amsterdam. In addition, the large number of Indonesian residents in the Netherlands would play a very important future role in supporting a variety of business entities, including corporations, micro, small and medium enterprises (MSMEs) and global retail businesses.
“The overseas diaspora population is a potential business niche in the company’s international business ecosystem. Currently, BNI is the Indonesian bank that has the widest [global] network.” Mucharom said.
BNI believes that Indonesian residents in the Netherlands can contribute much to the Indonesian economy, considering the large amount of remittances they send home.
Currently, Indonesians living overseas can access a broad range of targeted BNI services, including opening a Diaspora Savings account through the BNI Mobile Banking platform, Diaspora Lending products, financial transactions for trade and bank guarantees.
