Indonesia

Mastercard and Indosat Ooredoo Hutchison (Indosat) have formed a strategic partnership to enhance Indonesia's digital payment landscape.

The funding aims to promote responsible borrowing and fair credit practices in Indonesia.

Its Institutional Clients Group registered a 2.5% loan growth during the quarter.

Leaders and experts in insurance and marketing roll out tech-based strategies to unlock growth potential in Indonesia’s untapped market at Jakarta Forum.

Banking leaders at Asian Business & Finance’s Jakarta forum push digital technology and innovation to create seamless and personalised services.  

The partnership was signed last 2 May.

The project is now open to the public after more than a year since its pilot phase.

Attendees will gain firsthand insights into the trends and developments in Asia’s banking and insurance sector.

DANA's digital wallet empowers the unbanked and underbanked situations in Indonesia and now has 135 million users.

The bank’s annual general meeting of shareholders saw changes made to its board of directors.

They have also decided that 20% of net profits for 2022 will be used as dividends.

This plan will be submitted after obtaining approval from the Company's Annual General Meeting of Shareholders (RUPST) on 31 March.

Synergy with parent company MUFG will help grow its corporate and SME loans.

It now owns 67.5% of the Indonesian bank.

Thanks to this strategy, Bank Mandiri’s net profit grew 61.7% YoY in the first semester of 2022, SVP Thomas Wahyudi says.

Issuance in core markets, which include the two countries, fell 14.4% in Q3.