JAKARTA: London-based bank HSBC opened its 14th Indonesian branch in Mangga Dua, Central Jakarta, on Thursday to meet the needs of the company's customers in the area, one of the capital's major shopping centers.
"We have a big business community in the area. That is the reason that we have been very keen to open a branch there," the bank's head of commercial banking, Khuresh Faizullabhoy, said following the opening of the new branch.
He said HSBC planned to open two more branches in Jakarta, and in one in Surabaya this year as part of its target of expanding its commercial banking business by 30 percent this year.
According to HSBC head of personal banking, Rusli Sutanto, the bank's third party funds reached Rp 12 trillion (around US$131 million) in 2006, a 33 percent increase from the previous Rp 9.8 trillion. (05)
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