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Jakarta Post

Indonesia'€™s banking industry is a failure: Association

  • The Jakarta Post

    The Jakarta Post

Jakarta   /   Thu, September 26, 2013   /  05:34 pm

The National Banking Association (Perbanas) says that Indonesia has failed to develop its banking industry because of the number of people without access to financial banking services.

'€œThe access to banking is far lower than telecommunication,'€ Perbanas chairman Sigit Pramono said as quoted by Kontan.co.id on Thursday.

Sigit added that only 40 percent of Indonesians had gained access to the banking industry while telecommunication had 102 percent penetration, due to multiple SIM card ownership.

'€œThe banking industry must accelerate its business and provide more access,'€ Sigit said.

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