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Jakarta Post

OCBC NISP becomes RI’s fourth bank to provide trusteeship

  • The Jakarta Post

Jakarta   /   Tue, November 29 2016   /  10:00 am

Publicly listed Bank OCBC NISP, the local branch of Singapore-based OCBC bank, is expanding its business to include trusteeship, serving its individual and corporate clients in managing repatriated assets, to boost its fee-based income.

OCBC NISP national funding business head Eny Surjani Tanudiredja said on Monday that the lender had secured a license from Financial Service Authority (OJK) in August to provide the trusteeship service.

It allows the bank to act as a payment and investment agent, assisting its clients — called settlors — in disbursing money to their suppliers and providing integrated service for investment instruments for individuals.

“Everything will be done based on the contracts approved by the settlors. We are not allowed to give advice or act as consultants,” Eny said during a press briefing in Jakarta, adding that the lender did not yet ...