BNI eyes to boost deposits with more Japanese customers

Bank Negara Indonesia to get more Japanese companies to deposit their funds with them following a partnership agreement with Joyo Bank.

Under an agreement, BNI, the only Indonesian bank with a branch in Japan, will provide a priority service to Joyo Bank’s clients in Indonesia, said Abdullah Firman Wibowo, BNI’s head of international division.

He hoped that with the privilege service, Joyo Bank’s clients in Indonesia would deposit their funds with BNI as well as carry out banking transactions through the state bank.

BNI currently manages Rp 1.35 trillion or US$141 million in deposits owned by Japanese companies operating in Indonesia.

Firman hopes to increase the figure to Rp 2 trillion by the end of this year.

Joyo Bank is the 40th Japanese regional bank to have signed a cooperation agreement with BNI since the state bank established the so- called “Japan Desk” early this year to improve services to Japanese investors doing business in Indonesia.

BNI has received deposits worth $20 million from Japanese firms since the establishment of the service.

“We expect more [third-party funds] from Japanese investors in the future, when our brand has become more recognized among them,” he told reporters after the signing of the agreement.

At least $48.8 billion worth of transactions are conducted by Japanese investors in Indonesia, making them a  large potential market for Indonesian commercial banks who want to expand the business with foreign investors, Firman added.

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