ANZ Panin looking ahead
ANZ Panin looking ahead
In line with the rapid development of the commercial linkages between Australia and Indonesia, the demand for finance by Australian companies doing business with and in Indonesia has increased.
ANZ, through its joint-venture bank PT ANZ Panin Bank, is the only Australian-based bank with an operational presence in Indonesia.
The joint-venture bank is 85 percent owned by ANZ and 15 percent by PT Pan Indonesia Bank (Panin Bank), Indonesia's 10th largest private commercial bank and has one branch in Jakarta employing 60 personnel.
ANZ acquired its shareholding in ANZ Panin Bank in November 1993, and regards the acquisition as part of its strategy as "Australia's International Bank".
ANZ's international network now spans 43 countries, 19 of which are located in the dynamic Asia region.
ANZ Panin Bank is well placed to assist Australian customers wishing to establish businesses or contacts in Indonesia and to finance trade and investment flows between the two countries.
The Australian daily reports that the bank is also winning business from the rapidly growing numbers of Indonesian students studying in Australia. It reports that ANZ Panin has reintroduced retail banking services; a move that the growing number of Australian expatriates living in Jakarta find extremely helpful when doing their ANZ banking.
ANZ is active in providing finance to support the activities of companies doing business with Indonesia, through preexport and postexport financing, trade letters of credit, working capital loans, term loans and project structured finance.
According to Albert Burgio, President Director, ANZ Panin Bank, "Companies are recognizing the value of having one bank at both ends of their international banking transactions. A bank which understands their business and the local environment."
In addition to trade finance and corporate lending, ANZ Panin Bank's on-the-ground commercial banking service includes risk management services, funds transfer and remittance services, as well as deposit products.