DBS leads S'pore charge into RI<\/p>\n
SINGAPORE: Singapore's largest lender is leading the charge
\nfor a bigger piece of Indonesia's banking action, with plans to
\nopen six more branches by the end of the year, a DBS executive
\nsaid in a report published on Monday.<\/p>\n
The portfolio of the Development Bank of Singapore (DBS)
\ncurrently includes new outlets in Semarang, Jakarta, Surabaya and
\nMedan.<\/p>\n
"We are extremely optimistic about how the country and our
\noperations there are growing," Rajan Raju, the bank's head for
\nSouth and Southeast Asia, told The Straits Times.<\/p>\n
These centers account for about 70 percent of the economic
\nactivities of Indonesia, with a population of 220 million.<\/p>\n
United Overseas Bank (UOB) and OCBC Bank, completing
\nSingapore's so-called Big Three banks, are also eager to expand
\ntheir Indonesian presence.<\/p>\n
OCBC recently purchased an additional 28.5 percent stake in
\nBank NISP, which hiked its overall interest to 51 percent.<\/p>\n
UOB failed in its attempt last year to purchase a 51 percent
\nstake in Bank Permata. UOB has a 23 percent stake in Bank Buana
\nIndonesia and said it would continue to explore avenues of
\nexpansion. -- DPA<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/dbs-leads-spore-charge-into-ri-1447893297",
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