ABN AMRO opens two new branches<\/p>\n
JAKARTA (JP): The Netherlands-based ABN AMRO Bank will open
\ntwo new branches at the end of this month in the South Sulawesi
\nprovincial capital of Makassar and in the East Kalimantan town of
\nBalikpapan, according to its Indonesia country manager Pieter van
\nden Akker.<\/p>\n
\"We'll keep expanding. We have a long-term strategy here,\" he
\ntold a small media gathering on Thursday.<\/p>\n
With the opening of the new offices, ABN AMRO will have 15
\nbranches throughout the country, making it the largest operation
\namong foreign banks in Indonesia.<\/p>\n
Van den Akker said Balikpapan was an attractive market for its
\ncorporate and customer banking services, particularly with the
\nstrong oil and gas industry in the town.<\/p>\n
He said Makassar (previously Ujungpandang) was also an
\nattractive market because many consumer goods companies had
\nstarted to expand their operations into the city to cater for the
\nSouth Sulawesi market.<\/p>\n
ABN AMRO has been in Indonesia for more than 170 years. Last
\nyear it opened four branches at a time when other foreign banks
\ngot cold feet as the country tumbled into its worst economic and
\npolitical crisis in three decades.<\/p>\n
The bank traditionally provides corporate banking services,
\nbut in the past four years it has entered the customer banking
\nbusiness for upper end customers.<\/p>\n
Van den Akker said his bank's lending strategy over the next
\nsix to 12 months would largely focus on existing clients, both
\nmultinationals and local exporting businesses with good track
\nrecords.<\/p>\n
\"It's difficult to approve new projects right now,\" he said.<\/p>\n
He said the peaceful democratic presidential election last
\nmonth and improving relations with the International Monetary
\nFund augured well for the country's economic recovery as it had
\nrestored investor confidence.<\/p>\n
But many foreign investors would still be watching for further
\n(political and economic) developments he said, pointing to
\ndevelopments in the restive province of Aceh and in the country's
\nbank restructuring program.<\/p>\n
The Acehnese people, long suppressed during the 32-year regime
\nof former president Soeharto, have stepped up pressure to demand
\na separation of the resource-rich province from Indonesia, which,
\nif realized, some fear may lead to the disintegration of the
\nstate.<\/p>\n
Van den Akker added the fear of the so-called Y2K computer
\ndisaster, which might occur at the turn of the century, has kept
\nforeign investors from entering Indonesia.<\/p>\n
\"Foreign investors may start coming in next year,\" he said.
\n(rei)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/abn-amro-opens-two-new-branches-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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