Question 1

What is Bank of India Indonesia?

Accepted Answer

Bank of India Indonesia is a subsidiary of Bank of India, one of India's oldest and largest public sector banks. Operating in Indonesia since 1968, Bank of India Indonesia provides commercial banking services to both retail and corporate customers. The bank serves as a financial bridge between Indonesia and India, facilitating trade, investment, and banking relationships between the two countries.

Bank of India Indonesia is a publicly listed company on the Indonesia Stock Exchange and operates as a foreign exchange bank (bank devisa), enabling it to conduct international banking transactions and foreign currency operations.

Question 2

When was Bank of India Indonesia founded?

Accepted Answer

Bank of India Indonesia was founded on September 28, 1968, under the name PT Bank Pasar Swadesi, according to Notarial Deed No. 20 from Njoo Sioe Liep, S.H., Notary in Surabaya. The deed of establishment was approved by the Minister of Justice of the Republic of Indonesia through Decision Letter No. Y.A.5/35/8 dated February 3, 1975, and was published in the State Gazette of the Republic of Indonesia No. 19, Supplement No. 162, dated March 5, 1976.

The bank obtained its license to operate as a commercial bank from the Minister of Finance of the Republic of Indonesia through Decision Letter No. 906/KMK.013/1989 dated August 16, 1989. Based on Bank Indonesia's Decision Letter No. 27/68/KEP/DIR dated October 12, 1994, the bank obtained approval to conduct foreign exchange banking activities. Bank of India became the controlling shareholder of the bank, and on November 17, 2011, through Bank Indonesia Governor's Decision Letter No. 13/91A/KEP.GBI/2011, the bank's name was officially changed from PT Bank Swadesi Tbk to PT Bank of India Indonesia Tbk. The bank conducted its initial public offering (IPO) on April 12, 2002, and has been listed on the Indonesia Stock Exchange (formerly Jakarta Stock Exchange) since that date.

Question 3

Where is Bank of India Indonesia headquartered?

Accepted Answer

Bank of India Indonesia is headquartered in Jakarta Pusat (Central Jakarta), Indonesia. The bank's head office is located at Jalan H. Samanhudi No. 37, Central Jakarta, positioning it in the heart of Indonesia's financial and business district. This strategic location enables the bank to effectively serve its corporate and retail customers and maintain close relationships with other financial institutions and business partners.

Question 4

Where does Bank of India Indonesia operate?

Accepted Answer

Bank of India Indonesia operates in key cities across Indonesia. The bank maintains 8 branch offices, 6 sub-branch offices, 1 non-operational head office, and 2 cash offices throughout the country.

The bank's branch network is strategically located in major economic centers including Jakarta, Surabaya, Bandung, Medan, Bali, and Makassar. This distribution enables Bank of India Indonesia to serve customers in Indonesia's most important business hubs and facilitate trade and financial transactions between Indonesian companies and their Indian counterparts, as well as serving the broader Indonesian market.

Question 5

What services does Bank of India Indonesia offer?

Accepted Answer

Bank of India Indonesia offers a comprehensive range of commercial banking products and services. For individual customers, the bank provides personal current accounts, savings accounts, and term deposits in multiple currencies. Business customers can access business current accounts, savings products, and various deposit instruments.

Lending services include personal loans, investment credit, working capital credit, and specialized financing solutions. As a foreign exchange bank, Bank of India Indonesia provides trade and finance services including letters of credit, documentary collection, bill negotiation lines, and SKBDN (domestic trade payment instruments) for national trade transactions. The bank offers remittance services, money transfer facilities (including same-day INR transfers to India), tuition payment services, and safe deposit box services. Digital banking capabilities include mobile banking, internet banking, and ATM services for convenient 24/7 access to banking facilities. The bank also provides bank guarantees and other trade support services to facilitate business operations and international commerce.

Question 6

What makes Bank of India Indonesia unique?

Accepted Answer

Bank of India Indonesia's uniqueness lies in its heritage and specialized role as a bridge between Indonesian and Indian business communities. As a subsidiary of Bank of India, which was founded in 1906 and nationalized in 1969, the bank brings over a century of banking expertise from one of India's most established financial institutions.

Bank of India, the parent company, maintains a global network spanning 15 countries across 5 continents with 47 branches and offices, including subsidiaries and a joint venture. This international reach provides Bank of India Indonesia customers with access to a vast network, particularly beneficial for businesses engaged in India-Indonesia trade. The bank's positioning enables it to serve as a specialized financial intermediary for trade flows between the two nations, offering deep understanding of both markets, regulatory environments, and business cultures. This dual market expertise makes Bank of India Indonesia particularly valuable for companies seeking to expand operations or conduct trade between Indonesia and India, as well as for the significant Indian diaspora community in Indonesia.

Question 7

What type of financial institution is Bank of India Indonesia?

Accepted Answer

Bank of India Indonesia is a commercial bank (Bank Umum) with foreign exchange (Bank Devisa) status operating in Indonesia. As a subsidiary of Bank of India Limited (a public sector bank in India), it is classified as a foreign-owned bank operating under Indonesian banking regulations.

The bank is supervised and regulated by the Otoritas Jasa Keuangan (OJK) and Bank Indonesia, ensuring compliance with all applicable Indonesian banking laws and regulations. As a publicly listed company on the Indonesia Stock Exchange (formerly Jakarta Stock Exchange), Bank of India Indonesia is subject to public company disclosure and governance requirements. The bank is also a member of Indonesia's deposit insurance corporation, Lembaga Penjamin Simpanan (LPS), which protects eligible customer deposits according to applicable regulations.

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