Bank Rakyat Indonesia (BRI), one of the country’s leading banks, has opened its first branch in Singapore that aims to offer clients in Southeast Asia a full suite of banking services, including trade finance, payment and treasury services.

 

Trade services form the backbone of BRI’s operations, which aim to promote trade-related activities between Indonesia and other markets within the region and the US. The bank says Singapore is a highly strategic country for BRI where it plans to expand its business in Asia. BRI already operates working units in New York, the Cayman Islands, and Hong Kong.

 

The branch is located in the at OUE Bayfront, 50 Collyer Quay (near Marina Bay). The new office was opened by Indonesian coordinating minister for economic affairs Sofyan Djalil, witnessed by the minister of state-owned enterprises Rini Soemarno, and chairman of the board of commissioners of the Financial Services Authority (OJK) Muliaman D. Hadad.

 

The branch is equipped to provide international banking services including lending, accumulation of third-party funds, trade finance, wealth management, payment services, and treasury.