2 September 2011
The Central Bank of Indonesia, Bank Indonesia, has granted National Australia Bank (NAB), Australia’s largest business and corporate bank, a licence to establish a Representative Office in the country.
The Representative Office, expected to open later this year in Jakarta, will support existing Institutional, Corporate and Business Banking customers operating in or trading with Indonesia.
It will also provide a link for Indonesian and other Asia region clients looking to expand or invest in Australia, New Zealand, the United Kingdom or United States, particularly in the energy, education and agribusiness sectors.
National Australia Bank’s Asia CEO, Rob Wright, welcomed the licence approval.
“We are very excited at the prospect of being on-the-ground in Jakarta to facilitate even greater economic, trade and investment flows between Indonesia, Australia and New Zealand, in support of our clients.
“The Office is a strategic step in providing greater support for our clients doing business in Asia.
“It will leverage National Australia Bank’s expertise in fields of particular relevance to Indonesia, specifically trade, education, energy, and agribusiness,” said Mr Wright.
The Office will be managed by Dean Horton, who has spent the last four years leading National Australia Bank’s Asia Project Finance team from Hong Kong.
The approval for the Office in Indonesia follows the recent granting of a license by the Chinese regulators, for the opening of the Bank’s first China branch, in Shanghai, and the Indian regulator’s approval of the Bank opening its first Indian branch in Mumbai.
National Australia Bank is a global organisation with operations in Australia, New Zealand, USA, United Kingdom, and Asia and has more than 150 years of experience in financial services.
Group Media Adviser
+61 417 028 942