Monday, January 26, 2015

BRI Opens Branchs in Singapore

Although has a network of more than 10 thousand units in Indonesia, BRI does not turn a blind eye to remain overseas expansion. PT Bank Rakyat Indonesia (Persero) Tbk (BRI) intends to increase its overseas network by opening offshore branch in Singapore. Although not able to run a full service activities as a full branch, the company remains optimistic about the network's presence in Singapore.

"We're going to create a branch in Singapore. Assess our business there. Target completion this year, "said Acting Director of BRI, Asmawi Syam, in Jakarta, recently.

Associated with the opening of a branch office outside the country, before the company already has three branches outside Indonesia, namely in New York, Caymand Island and Hong Kong. Despite having a business focus in the retail sector, particularly in micro, small and medium enterprises, entrepreneurs share of BRI still aiming for Singapore.

"Singapore, many workers there. Employers much there, "said Asmawi.

Corporate Secretary of BRI, Budi Satria added, it does not open a branch office (full branch) in Singapore which is much more stringent licensing requirements. Banking authority in Indonesia was struggling to put forward the principle of equality or resiprokalitas with banking authorities in Singapore.

"So, offshore branch, the activity should not be limited as to take funds (deposits) from Singapore customers. We are processing licenses, "said Budi.

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