28 Jan Bank Nagara Indonesia seeks representative office in Myanmar

Written by Mizzima Published in Investment Read 3097 times
Bank-Nagara-Indonesia
A Bank Nagara Indonesia branch in Hong Kong. Photo: BNI

Bank Negara Indonesia has announced hopes to secure approval from the financial regulators to expand into Myanmar and South Korea, according to the Jakarta Globe on January 28.

The Indonesian state-owned bank’s foray into the two countries will be on different levels, with the aim to secure a full bank branch in South Korea and a representative office in Myanmar.

BNI is looking at expansion, according to local media reports, with a view to setting up branches in Singapore, Malaysia and Saudi Arabia.

The bank made a proposal to the Myanmar authorities for a representative branch in 2014.

To date, nine foreign banks have been given licences to operate in Myanmar.

Last modified on Wednesday, 28 January 2015 15:06