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Jakarta Post

Local banks expand business overseas amid double-digit growth

  • Made Anthony Iswara

    The Jakarta Post

JAKARTA   /   Fri, July 12, 2019   /  01:32 pm
The Jakarta Post Image
An official checks bundles of banknotes at a Bank Negara Indonesia (BNI) cash center in Jakarta.(JP/Ricky Yudhistira)

State-owned banks have recently been keen on planting more seeds outside Indonesia as lenders want to tap into the growing demand for their lending and remittance growth in their foreign branches. State-owned lender Bank Rakyat Indonesia (BRI) plans to set foot in Taiwan by the second half of this year at the latest, making it the first Indonesian bank to open a branch in the country. BRI president director Suprajarto said that some 250,000 Indonesian migrant workers and 12,000 more monthly arrivals had encouraged the bank to open a branch in the country, as quoted by tempo.com. “The trade between Taiwan and Indonesia turns out to be extraordinary as well,” Suprajarto, who also aimed to make his bank offices in Hong Kong full-fledged, said  recently. As of May, BRI’s foreign branches had disbursed a total of US$734 million in loans mostly to corporate b...