ROYAL BANK TO ENTER INDONESIAN MARKET

Jakarta, Nov 19 (ANTARA) - The Royal Bank, the oldest financial institution in the Netherlands, would join the Indonesian market after watching the high banking market growth in the retail and commercial sectors.

Earlier The Royal Bank of Scotland (RBS) announced the Indonesian ABN-AMRO re-branding to become The Royal Bank of Scotland (Indonesia).

The launching of the RBS brand in Indonesia becomes a part of an integration process for ABN Amro's wholesale, retail and commercial businesses as part of a consortium acquisition led by RBS concerning the Dutch bank at the end of 2007.

Asia Retail and commercial Market CEO Jim Brown said that the Indonesian market and domestic banking growth in the retail sector and commercial sectors was very high.

Supported by a wide network and domestic franchise, RBS is in the right position to serve Indonesian customers as the strongest capital bank in the world, he said.

By this integration, RBS enters the Indonesian market as an established and oldest finance institution in more than the last 180 years, he said.
RBS would also inherit an advanced wealth management and consumer finance network run by ABN Amro. With the integration RBS would have Indonesia's widest branch offices, with 20 branch offices in 10 different cities in five large islands in Indonesia, he said.

Meanwhile, Head of Global Banking and Markets for Southeast Asia and Pakistan, Muhammad Aurangzeb said that Royal Bank would have opportunities to open Indonesian markets.

The Royal Bank's position is very difficult in fulfilling its clients' needs in the current uncertain market condition.

"We would offer a superior joint product to our clients," he said.