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ANZ continues its expansion in Indonesia

PT ANZ Panin Bank (ANZ) announced it would open at least 12 new branches in Indonesia over the next year including today’s opening of two branches in Surabaya – Indonesia’s second largest city. 

ANZ Indonesia Chief Executive Officer, Joseph Abraham said ANZ Panin currently had five branches in Indonesia and the expansion reflected ANZ’s strong commitment to continue investing in Indonesia and to serving the growing banking needs of local individual and business customers. 


Officially launching the new branches in Surabaya today, Mr Abraham said: “These two new branches, ANZ Mayjen Sungkono and ANZ Mal Galaxy, are significant because Surabaya is the second largest city of Indonesia and a centre of business and distribution. The branches will provide more convenient banking for ANZ customers in Surabaya and eastern Indonesia. 


“These branches will provide leading products and services to retail and business banking customers in Surabaya as well as providing ANZ with greater capacity to bank customers in the eastern part of Indonesia,” Mr Abraham said. 


ANZ has identified Indonesia as one of the highest priority markets in its Asia Pacific growth strategy. 


Mr Abraham said the Surabaya branches would be followed by a further 10 branches to be opened in major cities in Indonesia next year, subject to regulatory approval. 


“ANZ continues to invest for growth in Asia Pacific and we are committed to playing a role in the ongoing development of the Indonesian banking sector by introducing new products and services for our customers and supporting critical economic development areas such as infrastructure and trade,” Mr Abraham said. 


“This includes our work with our partner bank PT Panin Bank through management and technical support, and through the growth of our 85% owned bank, ANZ Panin,” he said. 


ANZ is one of the world's leading banks and one of the largest international banks in the Asia Pacific region. ANZ is among the leading 30 banks in the world with assets of US$430 billion as at 31 March 2008. ANZ has a long-term credit rating of AA (Standard & Poors).


Products and services currently offered by ANZ in Indonesia include personal financial services (variety of personal savings and deposit account), wealth management products (investment and insurance), credit cards, corporate financial services (loan and working capital services), trade finance (export and import), markets (foreign exchange, loan and deposit). 

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