ID :
305801
Wed, 11/06/2013 - 10:19
Auther :

Bangkok Bank opens new branch in Indonesia

BANGKOK, November 6 (TNA) - Bangkok Bank, Thailand's largest commercial bank, has opened a new branch in Indonesia to support growing regional trade and investment, as the ASEAN Economic Community (AEC) is scheduled to be formed by 2015. Bangkok Bank's President Chartsiri Sophonpanich told journalists on Wednesday that his bank's new branch in Indonesia is in Medan, the third largest city of the world's archipelagic nation. Chartsiri acknowledged that the Medan branch is the third branch of Bangkok Bank in Indonesia, apart from those in Jakarta, Indonesia's capital, and Surabaya, but its 26th overseas branch. Chartsiri noted that Bangkok Bank foresees the growth potential of Indonesia, where there are plenty of natural resources and excellence in agriculture. According to Bangkok Bank's president, his bank's branches in Indonesia have made highest profits among its overall overseas branches and their lending, mostly to large-scaled Thai business operators in the Indonesian agricultural, petrochemical and energy sectors, is expected to reach one billion US dollars this year, from 900 million US dollars over the past three years. The Bangkok Bank's president pointed out that the quality of loans in Indonesia is good, with non-performing loans (NPLs) accounting for lower than two per cent of total loans. (TNA)

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