Rabobank Indonesia So Largest Foreign Banks in Indonesia
Bank February 8th, 2010
PT Bank Rabobank Indonesia (Rabobank Indonesia) became the number one international bank in Indonesia, after completing the merger with Bank Hagabank and Hagakita.
Rabobank Indonesia President Director, Tony Costa, in a press conference in Jakarta on Monday (28 / 7), said that through the merger of three banks, the company will become the largest international bank having 94 branches in Indonesia and around 1,700 employees.
“Until 2010, we will continue to expand our branch offices to 250 branches, more outside Java to expand the customer base,” said Tony.
In addition, the merger will also result in a total combined assets reached Rp 10, 2 trillion or about U.S. $ 1.1 billion.
Tony also revealed that the merger itself was approved by the Department of Justice and Human Rights, so that the new bank merger could run the operation with a new name from now on.
This merger is an integration step of three banks that originated from diakuisisinya Hagabank and Bank Hagakita in early 2007. With the single presence policy provisions of the Bank of Indonesia, Rabobank, and Bank Hagakita Hagabank merged with the new name Rabobank Indonesia.
While Vice President of Rabobank Indonesia, Danny Hartono, said the bank merger will focus on food and agribusiness sector, as well as some choice other products and services for the corporate market. It also will strengthen the SME financing sector by taking advantage of the network and the Bank Hagakita Hagabank.
“We are working to become more frequent potential SME sector because this sector has shown good performance in recent years, is seen from the reduction in the NPL (non performing loans) nationwide from 4.3% in 2006 to 3.44%,” said Hartono.
