Indonesian bank plans to open branch in Vietnam
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VOV News English
- 12 month(s) ago
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The Bank of Mandiri, the largest in Indonesia, has announced that it plans to open branches in Vietnam, Myanmar and Thailand, as part of its plans to become the foremost lender in Southeast Asia.
According to the bank’s Vice President Riswinandi, Mandiri has set a target of becoming one of the five leading banks in ASEAN by 2013 and one of the top three banks in the region by 2020.
Created by the merger of four State banks more than a decade ago, the Bank of Mandiri started its first overseas commercial operation in Shanghai in China last November.
At present, the Jakarta–based bank has total assets of around US$58 billion.