The four awards were: Best Corporate Treasury Sales and Structuring Team,

Best FX Bank for Structured Hedging Solutions and Proprietary Trading Ideas, Best Trade Finance Bank in Indonesia and Best Remittances Service Provider in Indonesia.

The awards were directly bestowed by Alpha Southeast Asia CEO Siddiq Bazarwala to BNI treasury general manager Rini Yuniar and BNI international division vice president Ida Bagus Widi Dwipayana in Jakarta on Thursday.

On a separate occasion, BNI Corporate & International Banking director Silvano Winston Rumantir expressed his appreciation for Alpha Southeast Asia’s acknowledgement of BNI’s efforts. For four consecutive years BNI has been able to achieve Best Corporate Treasury Sales and Structuring Team Award and Best FX Bank for Structured Hedging Solutions and Proprietary Trading Ideas by Alpha Southeast Asia.

According to Silvano, the trust of BNI’s customers is a motivation for the company to provide better services as added value for hedging solutions. “This award is a demonstration of the customers’ trust in our hedging solutions. We will continue to develop our treasury services to meet their growing needs,” he said.

Silvano added that derivative transactions had been growing significantly for the past two years as a hedging solution amid the exchange rate volatility and the trend of rising interest rates. Interest Rate Swap (IRS) products became the main choice followed by Cross Currency Swap (CCS) transactions which can protect against foreign exchange risk and interest rates.

In the midst of the digitalization era, BNI launched the BNI FX to facilitate foreign exchange transactions. In fact, the product helped increase BNI’s forex transaction growth volume to 48% YoY (year-on-year). The business coverage of BNI’s treasury also contributed to its corporate finance performance and increase in fee-based income. Fee-based income from treasury transactions is recorded to have contributed significantly to the total fee-based BNI's income in the first half of this year.

Silvano also added that BNI has kept the Best Trade Finance in Indonesia Award for 16 years. BNI aexcels in international remittance services, gaining it the Best Remittances Service Provider category in Indonesia for the twelfth time. “BNI’s success is inseparable from innovations that follow a competitive and customer-oriented market,” he added.

Silvano said that every BNI product that facilitates international transactions is supported by BNI’s large branch office networks. In line with BNI’s desire to increase digital innovation, the company continues to improve remittance systems and services through the API Remittance that is connected to more than 100 company remittances across the globe.

“As a global bank, BNI has an extensive network of overseas branches in various countries including Singapore, Hong Kong, Tokyo, London, New York, Seoul and Amsterdam. Domestic

treasury, trade finance and remittance products and services are also available at BNI branch offices throughout Indonesia," he explained.

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