BCA ACQUIRES 1% OF PT BANK DBS INDONESIA (DBSI)
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JAKARTA, 26 June 2008 - Bank Central Asia Tbk ("BCA") and DBS Bank Ltd ("DBS") announced today that BCA has acquired one percent shareholding in PT Bank DBS Indonesia ("DBSI"), DBS' 99%-owned Indonesian subsidiary. D.E. Setijoso, President Director of BCA, along with Jahja Setiaatmadja, Vice President Director of BCA and Rajan Raju, Managing Director and Head of Consumer Banking Group, DBS Bank Ltd signed the agreement in Jakarta today.
D.E. Setijoso said, "This shareholding arrangement marks the increased level of cooperation between the two banks to enhance their services to customers of both parties. We also believe that this is in line with our commitment to support the banking sector and the Indonesian economy."
Rajan Raju, who is also the President-Commissioner of DBSI said, "We are pleased to have BCA as our business partner in Indonesia as we continue to invest and grow in Indonesia for the long term. Over the past 18 months, DBSI has been rapidly growing its network in the country; it added 17 new branches and sub-branches to serve its enterprise banking and DBS Treasures Priority Banking customers. We are in the high-growth phase of DBSI's plans in Indonesia and continue to see many opportunities in this exciting market." DBSI currently has presence in 25 locations across 11 cities in Indonesia.
In a separate transaction, DBSI's capital has been increased by IDR 925 billion (SGD136 million) to fund its organic growth.
About BCA
BCA is one of the leading banks in Indonesia with over 7 million customers served by 814 branches, 5681 ATMs and 67,721 EDCs (Electronic Data Capture) located in retail business centers located throughout Indonesia.
About DBSI
PT Bank DBS Indonesia currently has 25 branches and sub-branches located in Jakarta, Bandung, Semarang, Jogjakarta, Surabaya, Medan, Pekanbaru, Palembang, Makassar, Samarinda, Pontianak, providing the full range of banking services to corporate and retail clients.
About DBS
DBS is one of the largest financial services groups in Asia with operations in 16 markets. Headquartered in Singapore, DBS is the largest bank in the country as measured by assets, and a leading bank in Hong Kong. DBS' "AA-" and "Aa1" credit ratings are among the highest in the Asia-Pacific region.
As a bank that specialises in Asia, DBS leverages its deep understanding of the region, local culture and insights to serve and build lasting relationships with its clients. DBS provides the full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. The bank is committed to expand its pan-Asia franchise by leveraging its growing presence in mainland China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows between these markets. Likewise, DBS is focused on extending its end-to-end services to facilitate capital within fast-growing countries in Indonesia and India.
DBS acknowledges the passion, commitment and can-do spirit in each of its 15,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.