DBS Buana starts operation

JP/alx

PT Bank DBS Buana, a joint venture between DBS Bank of Singapore and Bank Buana Indonesia, officially opened yesterday.

DBS Bank, ranked among the top 100 banks in the world, is the largest bank in Singapore as well as Southeast Asia with funds of S$6.9 billion and assets of S$55.7 billion.

Bank Buana Indonesia has 40 years of banking experience and a network of 120 offices throughout the country.

Pictured above are Singaporean ambassador to Indonesia Edward Lee (center), flanked by Ngiam Tong Dow (left), the chairman of DBS Bank and Hendra Suryadi, the president of Bank Buana Indonesia.

DBS Buana president Lee Meng Soon said both banks combined resources to provide banking services to both corporate and individual customers.

Bank DBS Buana already engages in debt syndication, trade financing, corporate finance and treasury operation. he said.

"Looking to the future, Bank DBS Buana will actively pursue and focus on structured finance and project and infrastructure financing. It will also marry its banking operation with the broking activities of PT DBS Securities Indonesia," he said.

DBS Securities Indonesia, which is DBS Bank's first operation in Indonesia, was established in 1989. (jsk)