ANZ Panin Bank, the opportunities ahead

ANZ Panin Bank, the opportunities ahead

Many economists paint a gloomy picture for Indonesia in 1999. They say the country is at a political crossroads, and things will be extremely tough economically. The banking sector is in turmoil and yet remains the catalyst for any renewed business activity.

What lies in store for banks in 1999?

ANZ Panin Bank's President Director Ian Colley explained ANZ Panin has pursued a strategy directed at Corporate Banking and Treasury activities.

"The bank has a significant multinational customer base as a result of the strength of the Australian corporate representation in Indonesia, and we will continue to support their needs.

"The local corporate market is, however, likely to experience a difficult year, and the first three months of the year (prior to the general election period) are going to be crucial for both companies and banks in finalizing restructuring of existing debts so that we can all move forward."

ANZ Panin is looking at Indonesia as a long-term prospect, and this as a time of opportunity. Colley added: "We will be looking to develop and grow in our business in areas such as Personal Banking and Trade Finance, and the fast-changing regulatory environment will create opportunities for the stronger players."

ANZ Panin Bank's Head of Personal Banking, Muhamadian Rostian, said: "The bank will be developing its Personal Banking capabilities, which will involve a revamp of distribution channels and products. If infrastructure can be established, there is potential to significantly increase our market share."

A bank's image and profile is important. "Our first step is a relocation of our existing head office in May 1999 to a more prominent site that will better suit a personal banking presence," Rostian said.