<article><a href="www.bri.co.id">PT Bank Rakyat Indonesia Tbk</a> (BBRI) or Bank BRI, Indonesia’s oldest commercial bank, is now expanding its network to Singapore, in order to strengthen its banking business network in Asia.</article>

<a href="www.bri.co.id">PT Bank Rakyat Indonesia Tbk</a> (BBRI) or Bank BRI, Indonesia’s oldest commercial bank, is now expanding its network to Singapore, in order to strengthen its banking business network in Asia.
BRI’s newest overseas branch is located at the heart of Singapore, at OUE Bayfront, 50 Collyer Quay. The Singapore office will be providing financial services for customers in both countries. As one of international financial hub in Asia, Singapore is recognized as gateway to develop business globally.
The opening of Singapore branch is in conjunction with the visit of the Indonesian President Joko Widodo to Singapore to strengthen business, investment and trade relation between the two neighbouring countries. The move is also seen as a preparatory step undertaken by the bank to take advantage of the ASEAN Economic Community, which will officially become effective from January 1, 2016.
“Bank BRI sees Singapore as a country that promises tremendous business potential for the development of the current banking business.  The great potential is also translated by Bank BRI as golden opportunity to expand and strengthen the business” Budi Satria, the Corporate Secretary of Bank BRI said in a statement.
The vision of BRI Singapore Branch Office is to become the leading bank that accommodates the business growth of its clients in the Southeast Asia region, he added.
With its rapid development, Singapore has become an attractive market to invest in banking business.  Some potential businesses that can be optimized by BRI, includes trade finance and remittance. Further more, Singapore offers great potential on raising international funding, that will enhance BRI’s existing treasury business.
Bank BRI is the oldest commercial bank in Indonesia, founded in 1895. As the state-owned bank that went public in 2003, the Indonesian government holds the majority of its shares by 56.75 percent, while the remaining 43.25 per cent is with the  public.
Bank BRI is considered as bank with the largest network and customers’ base in Indonesia, with more than 10,300 outlets, including <a href="http://www.brinya.com">BRI New York </a>Agency, <a href="http://www.bri.co.id">BRI Cayman Island</a> Branch and <a href="http://briremittance.com">BRI Remittance Hong Kong</a>, more than 20,500 ATMs and with more than 50 million customer accounts.
Its profitability has made Bank BRI more attractive in the investment perspective. Bank BRI has been the most profitable bank in Indonesia for ten consecutive years since 2005. The Rp24.2 trillion of net profit at the end of 2014 as a result of 13.9 per cent solid business growth, manageable asset quality (below 2%), high ROE level at 31.22 per cent, and high ROA level (before tax) at 4.74 per cent.
These achievements are also supported by the high net interest margin of 8.51%, increasing fee-based income, and improving efficiency (cost efficiency ratio stood at 43.10 per cent).

Bank BRI, Indonesia’s oldest commercial bank, is now expanding its network to Singapore, in order to strengthen its banking business network in Asia.

Indonesia’s BRI takes baby steps for Asia expansion with Singapore office

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