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Jakarta Post

Standard Chartered, Prudential cooperate to launch bancassurance

  • News Desk

    The Jakarta Post

Jakarta   /   Fri, August 25, 2017   /   12:47 pm
Standard Chartered, Prudential cooperate to launch bancassurance Standard Chartered Bank Indonesia executive director and head of wealth management Bambang Simarno (from left), retail banking head Lanny Hendra, Prudential Indonesia chief partnership distribution officer David Nugroho and Prudential Indonesia chief operating officer Nick Holder introduce Versalink Capital Protection in Jakarta on Aug. 24. (JP/rdi)

In cooperation with insurance company Prudential Indonesia, Standard Chartered Bank Indonesia has launched Versalink Capital Protection bancassurance to support its goal to achieve double-digit growth in its fee-based income this year.

The cooperation will provide a significant boost to the bank’s fee- based income, said Standard Chartered Bank Indonesia’s retail banking head, Lanny Hendra, in Jakarta on Thursday.

She expressed her optimism that the bank would be able to achieve its fee-based income target, considering the improved economic conditions.

Read also: Standard Chartered aims to boost fee-based income with new agreement

Standard Chartered Bank Indonesia previously cooperated with the insurance company to launch several other products that were met with positive responses from its clients, said Lanny, adding that it was the bank’s sixth cooperation with Prudential Indonesia.

Executive director and head of wealth management Bambang Simarno said more than 2,000 priority banking customers had used the products launched in collaboration with Prudential.

According to its financial report, the bank booked Rp 606.57 billion (US$45.42 million) in fee-based income during the second quarter of the year, a slight increase from Rp 598.43 billion in the same period last year. The second quarter achievement was 87 percent higher than what the bank booked in the first quarter of 2017. (rdi/bbn)