PT Bank Negara Indonesia (BNI) is committed to expanding its banking services globally. This commitment is realized by inaugurating a representative office in Sydney, Australia. It is the first bank representative from Indonesia to open an office in Australia.
Deputy Minister of Foreign Affairs Pahala Mansury stated that the presence of the BNI representative office in Sydney will facilitate increased trade between the two countries.
“Moreover, currently, Indonesia and Australia are comprehensive strategic partners, both in trade and investment, especially in strategic sectors,” said Pahala in a written statement, Thursday (5/9).
Pahala, who also serves as Deputy President Commissioner of BNI, believes that BNI’s presence in Sydney will further strengthen economic relations between Indonesia and Australia.
“We thank OJK for playing a role in strengthening relations between Indonesia and Australia, especially in the financial sector. This is also inseparable from the role of the Ministry of Foreign Affairs and the Ministry of Investment,” he said.
Meanwhile, BNI President Director Royke Tumilaar said that his party does have an internationalization plan aimed at expanding the reach of banking services and strengthening its global presence.
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In order to achieve this goal, BNI has established several overseas offices in various strategic countries.
“Today is a historic moment for us, Bank Negara Indonesia, because with the inauguration of the Representative Office in Sydney, BNI is further strengthening its presence in the international arena,” said Royke at the inauguration of the BNI Representative Office in Sydney, Australia, Thursday.
There are several strategic reasons why BNI chose Sydney as the location for its new office operations.
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First, Sydney is one of the main financial centers in the Asia-Pacific region, so by operating in Sydney, BNI can strengthen its presence in the international financial market and more easily access various global finances.
Second, Sydney is the business and economic center of Australia which offers many opportunities for business collaboration and investment. In addition, there are many potential business transactions carried out by Indonesian companies expanding their businesses in Australia and vice versa.
Third, the Indonesian diaspora community in Sydney is quite strong, around 42% of the Indonesian diaspora live in Sydney. Thus, BNI’s presence allows the company to better serve the banking needs of this community and strengthen relations with the Indonesian community in Australia.
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The fourth reason is that Australia offers access to new and different markets from those previously worked by BNI, thus enabling BNI to map and explore the region more effectively.
“The existence of this representative office is expected to be a wider gateway to increase business, economic and business cooperation between Indonesia and Australia, as well as countries in the Asia-Pacific region,” said Royke.
Currently, with the status of Representative Office, the main activities will include conducting research, such as conducting research on the economy and business in Australia. In addition, this office can also provide business referrals to other overseas offices.
Royke also thanked all parties involved and supported BNI. “I would like to express my deepest gratitude to the Minister of SOEs, the Deputy Minister of Foreign Affairs, OJK, and the Indonesian Ambassador to Australia for the support that has been given in the process of establishing this office. Thank you also to all parties who have worked hard in realizing this project, so that we can stand here today,” he said.
As of now, BNI has overseas offices in various countries ranging from Singapore, Hong Kong, Tokyo, Seoul, London, Amsterdam to New York. Each of these overseas offices serves as an extension of BNI’s banking services, designed to serve corporate and retail customers, support international trade, and provide access to global financial markets.
These offices play a vital role in connecting Indonesian clients with business opportunities available in international markets, while also supporting global companies seeking to do business in Indonesia.
“With these overseas offices, BNI is committed to becoming a national bank that is able to compete in the global arena, support economic growth, and strengthen business relations between Indonesia and other countries,” Royke concluded. (Z-11)
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BNI Opens Representative Office in Sydney: A Milestone for Indonesian Banking
!BNI Becomes First Indonesian Bank to Open Representative Office in Australia
BNI opens representative office in Sydney, Australia. (BNI)
In a significant leap towards enhancing its global footprint, PT Bank Negara Indonesia (BNI) has inaugurated its first-ever representative office in Sydney, Australia. This landmark achievement positions BNI as the pioneering Indonesian bank to establish a presence in Australia, thereby laying a strong foundation for deeper bilateral trade and investment relations.
Strengthening Ties: The Role of BNI in Indo-Australian Relations
According to Deputy Minister of Foreign Affairs Pahala Mansury, the opening of BNI’s office in Sydney is expected to catalyze increased trade between Indonesia and Australia. “Currently, Indonesia and Australia are comprehensive strategic partners, both in trade and investment, especially in strategic sectors,” Mansury stated in a formal announcement. This strategic partnership is underscored by a robust commitment from both nations to enhance cooperation in various domains, including finance.
Pahala, who also holds the position of Deputy President Commissioner at BNI, expressed optimism that the bank’s presence in Sydney would further bolster economic relations between the two nations. He acknowledged the pivotal role played by stakeholders like the OJK (Financial Services Authority), the Ministry of Foreign Affairs, and the Ministry of Investment in materializing this initiative.
A Vision for Internationalization
During the office inauguration, BNI President Director Royke Tumilaar articulated the bank’s vision for internationalization, stating that the establishment of the Sydney office is part of a broader strategy to expand banking services globally. “Today is a historic moment for us, Bank Negara Indonesia, because with the inauguration of the Representative Office in Sydney, BNI is further strengthening its presence in the international arena,” Tumilaar remarked.
Key Motivations for Establishing the Office in Sydney
The choice of Sydney as the operational hub is strategic for several reasons:
- Financial Hub: Sydney is recognized as a major financial center in the Asia-Pacific region. Establishing a presence there allows BNI to tap into the international financial market and gain easier access to diverse global financing opportunities.
- Business and Economic Opportunities: As the economic heartbeat of Australia, Sydney presents abundant opportunities for business collaborations and investments. This is particularly relevant given the existing trade ties between Indonesian businesses and their Australian counterparts.
- Indonesian Diaspora: A significant Indonesian community exists in Sydney, with approximately 42% of the Indonesian diaspora residing in the city. BNI’s presence enables the bank to effectively cater to the banking needs of this community, thereby strengthening ties with Indonesians abroad.
- Access to New Markets: Australia offers BNI access to new and diverse markets, facilitating broader outreach and exploration in the Asia-Pacific region.
Royke Tumilaar emphasized the hope that this representative office will serve as a crucial gateway for enhancing business, economic, and cooperative initiatives between Indonesia and Australia, along with other Asia-Pacific nations.
Activities and Future Plans for the Sydney Office
Initially, the BNI representative office will focus on conducting research concerning Australia’s economy and business landscape. Additionally, it will facilitate business referrals to other overseas offices of BNI, thereby broadening its global network and service offering.
The establishment of the office in Sydney marks a significant milestone in BNI’s ongoing effort to strengthen its international presence. With existing offices in key global cities such as Singapore, Hong Kong, Tokyo, Seoul, London, Amsterdam, and New York, BNI is well-positioned to leverage its international network to benefit Indonesian businesses operating abroad.
Conclusion
The launch of BNI’s representative office in Sydney represents a pivotal moment in the evolution of Indonesian banking on the global stage. This strategic initiative not only strengthens bilateral economic ties with Australia but also enhances the banking experience for the Indonesian community abroad. As BNI continues to expand its international footprint, it paves the way for a new era of banking services, investment opportunities, and cooperative development between Indonesia and Australia.
For individuals and businesses interested in exploring more about BNI’s services and their implications for trade and investment, the newly opened office in Sydney serves as an invaluable resource and point of contact. Stay updated with BNI’s future expansions and international offerings—together, we can navigate the global financial landscape more effectively.
