27 Feb '12, 10am

Bank Negara Indonesia to grow Shariah banking - Channel News Asia

Bank Negara Indonesia to grow Shariah banking - Channel News Asia

SINGAPORE: Indonesia's fourth largest lender Bank Negara Indonesia (BNI) is actively searching for a partner to further tap growth opportunities in Shariah banking. Its CEO Gatot Suwondo said the bank is also looking to venture into micro-banking - an area that's new to BNI right now. Bank Negara Indonesia is one of the familiar household names in Indonesia with over 1,500 branches. And the lender is looking to grow its business further. For 2011, BNI booked a net profit of about 5 trillion rupiah (US$550 million) - up by some 40 percent from the previous year. In 2010, BNI injected around US$100 million in Shariah banking. Now it is evaluating potential business partners to spur growth in Shariah banking space. Mr Gatot said: "We need a partner who has knowledge in Shariah and besides that, we have network in Shariah and of course, strong funds to grow our shariah banking...

Full article: http://www.channelnewsasia.com/stories/corporatenews/view...

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