Indonesian bank to establish Australian operations

09 Jun 2017

Bank Negara Indonesia (BNI) – the fourth largest bank in Indonesia with assets of over A$40 billion – is to establish Australian headquarters in Melbourne.

BNI’s Australian operations are due to begin in 2018 once approvals have been obtained from Australian and Indonesian regulators.

The announcement was made by Dr Muliaman Hadad, Chairman of Indonesia’s Financial Services Authority (OJK) who had been in discussions with the Victorian Government for some time about ways to encourage greater cooperation in the banking sector between Indonesia and the state of Victoria. Last year he witnessed the signing of an MoU during the Victorian Invitation Program (VIP), the state’s flagship inbound trade mission.

Tim Pallas, the Treasurer of Victoria, said that the decision to open BNI’s headquarters in Melbourne ‘will pave the way for future investment and trade opportunities with our closest neighbour’.