NISP customers have freedom in Singapore

Thanks to a cooperation agreement, Bank NISP customers traveling to Singapore can now withdraw money from 360 ATMs belonging to the OCBC Bank of Singapore.

All Bank NISP holders of "Kartu Seru" cards can withdraw money from all ATMs belonging to OCBC Bank and Singaporean travelers can do the same here.

Until June Bank NISP depositors can withdraw cash from OCBC Bank ATMs in Singapore with no fees, with a daily withdrawal limit set at between Rp 1 million (US$105) and Rp 10 million.

Domestically, holders of Bank NISP "Kartu Seru" cards can now withdraw money from a network of 8,500 ATMs in Indonesia, including ATM NISP, ATM Bersama and ATM BCA.

OCBC depositors, when withdrawing money from Bank NISP's ATMs, will be charged S$2 per transaction, with a daily transaction limit of between S$1,000 and S$5,000.

OCBC Bank is the majority shareholder of Bank NISP, controlling a 51 percent stake.

OCBC is Singapore's oldest bank and has a total assets of around Rp 670 trillion (US$70 billion), with 112 branches and representative offices in 14 countries, including Singapore, Malaysia, Indonesia, China, Hong Kong, Japan, Australia, Britain, and the United States.

Bank NISP, established on April 4, 1941, is Indonesia's fourth-oldest bank. The bank posted total assets of Rp 18.8 trillion as of March 31.

Bank NISP booked an unaudited net profit of Rp 93.1 billion in the first quarter of this year, up by 69 percent from Rp 55.3 billion in the same period last year.

This sharp increase in profit resulted from a 22 percent increase in loans disbursed, from Rp 8.8 trillion to Rp 10.8 trillion.

Meanwhile, non-performing loans stayed low at 1.26 percent, and the bank's capital adequacy ratio stayed at 15.92 percent, almost double Bank Indonesia's minimum requirement of 8 percent.

Third party funds also increased, from Rp 10.5 trillion to Rp 13.8 trillion, while the bank's loan-to-deposit ratio stood at 78.07 percent, indicating the bank's active role in its intermediary function.

Bank NISP's sound performance has been recognized by several institutions. The bank, for instance, was voted as the "Best Emerging Market Bank in Indonesia 2004" by New York-based Global Finance magazine, "Best Issuer in the Banking Sector 2004" from Investor magazine, Indonesia, and "Best Bank in Indonesia 2003" by London-based Euromoney magazine.

Bank NISP's premier products * Tabungan TANDA. This deposit product offers a number of benefits to depositors: A free gift for any opening of new account with a minimum deposit of Rp 100,000, "TANDA Seru" drawing with a total prize of 8 billion a year, and "Kartu Seru" cards that can be used to do transactions at 8,500 ATMs in Indonesia and 360 ATMs in Singapore. * KPR Merdeka NISP. With KPR Merdeka, Bank NISP is a pioneer in channeling loans after the crisis. This credit was described as an "innovative marketing program for housing loans" by Properti Indonesia magazine. * KPM Merdeka NISP. KPM Merdeka gives financing facilities to customers who want to purchase their own cars, new or secondhand. This facility promises quick processing and low interest rates. * KMG Merdeka NISP. KMG Merdeka provide quick credit for customers using houses and cars as their collateral. This facility promises quick processing, with the amount adjusted to customers' needs.