DBS Buana starts operation

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)