JAKARTA: One of Indonesia’s leading and fourth largest in assets PT Bank Negara Indonesia (BNI) said it would open branches in South Korea and Myanmar this year.
“Proposal for the opening of the branches in South Korea was already submitted late last year and proposal for one in Myanmar was already made a year earlier,” Gatot M. Suwondo, president director of the publicly traded state lender said here the other day.
Gatot said expansion to the two countries is included in the banks business plan as reported to the shareholders.
“We focus expansion to the two countries. Later we will open another branch in Malaysia,” he said.
He said it is not easy to open a branch abroad as “we have to follow the regulation of the destination country.”
BNI, therefore adopts the strategy of “based on related business”, that BNI is ready to serve Indonesian business people seeking expansion abroad, he said.
“At the same time we hope to encourage foreign investors from the foreign country to do business in Indonesia,” he added.
The unit to be opened in South Korea, will be a full branch as requested, but the one in Myanmar could not be directly to operate as full branch.
“In South Korea apart from facilitating investors BNI also will serve Indonesian migrant workers. In Myanmar, BNI wants only to help promoted investment cooperation between the two countries,” Gatot said.
The plan to open a branch in Malaysia is yet to be proposed, he said.
Opening a subsidiary in Malaysia is required to have a capital of at least Rp1 trillion.
