Bank Internasional Indonesia (BII) has commenced the operations of its Mumbai branch effective today. The Bank, headquartered in Indonesia, is a subsidiary of the Maybank Group, one of the largest bank in ASEAN by total assets and market capitalization with head quarter in Malaysia. BII Mumbai will enhance both BII and Maybank Group's presence beyond the ASEAN region. The BII Mumbai branch activation has been approved by respective banking regulators - Reserve Bank of India and Bank Indonesia.
With trade flows between India and the ASEAN countries already at US$ 79 billion and expected to reach US$ 100 billion by 2015, the Indian branch will focus on this banking space. It aims to provide a host of trade, foreign exchange and related banking products and services to Indian companies with business interests in ASEAN region and vice versa. It will also cater to Maybank Group's customers and their counterparties for their banking requirements in India.
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For its initial operations, BII Mumbai branch will serve its customers by providing traditional banking products such as saving accounts, current accounts and loans; while the full range of banking products will commence in September 2013. Seeing the opportunity in the market, BII Mumbai's operations will place significant focus on corporate and commercial banking segment and will actively participate in arranging Buyers' Credit (BC) and External Commercial Borrowings (ECBs) for its Indian customers.
President Director of BII, Dato Khairussaleh Ramli said "We are pleased with the activation of BII Mumbai branch. The operations of BII in Mumbai will open up new potential business opportunity for BII as India is considered one of the fastest growing economies in Asia and the world. BII India will provide banking products and services to meet the needs of Maybank Group's customers having business interest in India, and Indian business communities conducting business in the ASEAN countries where Maybank has presence. The activation of BII Mumbai branch is in line with the Group's mission in humanizing financial services across Asia."
Mr. Pravin Batra, CEO of BII's India operations, added "BII India is all geared up to enter the Indian market and emerge as a dominant Intra-ASEAN Trade Finance Bank".
The branch is located at One Indiabulls Center, Tower 2B, Elphinstone Road (West) - Mumbai, the new evolving business district in central Mumbai.
Note for Editor:
BII is one of the largest banks in Indonesia with 415 branches including Syariah branches and overseas branches 1,388 ATMs including CDMs (Cash Deposit Machines) BII across Indonesia, and also connected with more than 20,000 ATMs under ATM PRIMA, ATM BERSAMA, ALTO, CIRRUS, and Malaysia's MEPS network, and to more than 3,500 Maybank ATMs in Malaysia and Singapore. BII has overseas presence in Mauritius and Mumbai (today officially reactivate its operations). As of 31 March 2013, total customer deposit of Rp89.3 trillion and Rp118.3 trillion in assets. BII provides full range of financial services through its branch and ATM network, phone banking, mobile banking and internet banking channels. BII is listed on the Indonesia Stock Exchange (BNII) and is active in SME, Retail and Global Wholesale Banking.
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