UOB opens branch in Bintan

JAKARTA (JP): United Overseas Bank Ltd. of Singapore said on Wednesday it opened a branch on the Indonesian island of Bintan through its joint venture PT Bank Overseas Bank Bali (UOBB).

The opening makes United Overseas Bank the first foreign bank to operate in Bintan, it said.

The branch should facilitate business ties between Indonesia and Singapore, especially between the Riau islands and Singapore.

Known as UOBB Tanjung Pinang, the branch offers a range of banking services including foreign exchange services, current accounts and deposits.

UOB currently has a representative office in Jakarta, stockbroking joint venture PT UOBB Securities, and joint venture life insurance firm PT UOB Life-Sun Assurance. (rid)