BNI Business Profit in Korea Grows 73.9%

BNI Business Profit in Korea Grows 73.9%

Jakarta, 15 April 2021 -- PT Bank Negara Indonesia (Persero) Tbk or (BNI or the Company) has succeeded in optimizing its role in serving Indonesian and Korean businesses. This is confirmed by the performance record of BNI's Seoul Overseas Branch Office (KCLN), which successfully posted sustainable profit growth in the last five years of 73.9% per annual (CAGR). This positive performance was also reflected in credit growth that increased by 59.3% in December 2020 (year-on-year) with total earning assets reaching USD 462.5 million in December 2020. In the first quarter of 2021, credit continued to grow in double digits, thus boosting Net Interest Income.

BNI’s Treasuri dan International Director, Henry Panjaitan said in Jakarta, Thursday (15 April 2021), the impact of the global pandemic will still be a challenge for KCLN's business in 2021. However, BNI continues to strengthen its services by establishing Korean Desk this year. The formation of the Korean Desk will increase the synergy between BNI branch offices abroad and domestic business units, so that the double-digit growth at KCLN Seoul will be maintained.

BNI KCLN Seoul is the only bank from Indonesia that operates in South Korea. This branch was established in 2016 as a sign of the realization of the collaboration between the Financial Services Authority (OJK) with the Financial Supervisory Service (FSS) and the Financial Supervisory Commission (FSC) of South Korea. 

BNI is expanding its network to Seoul to become a bridge between Indonesian and South Korean businesses. On the basis of this objective, BNI KCLN Seoul carries out two strategic values, namely providing facilities for Indonesian companies to penetrate the South Korean market, as well as direct investment services (FDI) for South

Korean investors to invest in Indonesia. 

These two strategic values were strengthened by the establishment of Korean Desk. Currently, there are around 2,000 Korean companies operating in Indonesia, some of which have become BNI customers. The increase in the number of customers from South Korea occurred on the basis of a referral from BNI KCLN Seoul.

Indonesian Diaspora 

In addition to services in the corporate segment, BNI KCLN Seoul also provides services to Indonesian Diaspora in South Korea. Currently there are nearly 37,000 Indonesian citizens (WNI) in South Korea and around 34,000 of them are semi-skilled Indonesian Migrant Workers in the manufacturing and fisheries sectors. In addition, there are also around 1,400 students, and the rest are Indonesian mix-married.

BNI Seoul provides total financial solution services for Diaspora in Indonesia ranging from savings products and mobile banking, investment products such as Indonesian retail bonds (ORI), Indonesian retail sukuk (SUKRI), mutual funds, to consumer loans. BNI Seoul also regularly provides financial inclusion and entrepreneurship seminars, which are part of BNI's duties as an agent of development. In the future, BNI Seoul will provide productive credit for Indonesian Diaspora who have businesses in South Korea.  

The existence of BNI KCLN Seoul adds to the coverage of BNI's network and services abroad. KCLN Seoul is one of six branch offices overseas, namely London, New York, Tokyo, Singapore, Hong Kong; as well as one sub branch in Osaka; two Limited Purpose Branches in Singapore; and one subsidiary in Hong Kong, BNI Remittance Limited, which specifically handles money transfer transactions. In addition, BNI also assigned 12 Remittance Representatives in Malaysia, Hong Kong, South Korea, Taiwan and several countries in the Middle East.

For more information, please contact:
BNI Corporate Secretary 
Phone: 021-5728387


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