Bank alliance to boost Indonesian and Japanese business

PT Bank DBS Indonesia and Sumitomo Mitsui Trust Bank continue regional partnership.

Both banks will provide end-to-end financial and banking services, notably trade finance, cash management and foreign exchange services, to Japanese companies in Indonesia.

The strategic partnership will also provide Japanese companies with insights on doing business in Indonesia and help boost business opportunities for Indonesian companies in Japan. The agreement continues a regional partnership between DBS Group and SMTB signed in May 2011.

DBS Indonesia will assign Japanese experts and specialists to serve SMTB’s client base and Japanese accounts, and also provide Indonesian businessmen with insights and information about the Japanese market.

Services offered under the DBSI and SMTB partnership will be known as “DBSI-SuMi TRUST Japanese Business Services”.

The alliance also paves the way for other joint efforts in the future, such as collaboration between DBS Singapore and SMTB to form a Japan Advisory Council, with members comprising industry experts and leaders from Indonesia, Singapore and Japan.

The objective of the council is to promote business activities between Indonesia and Japan, as well as to support Indonesia’s economic growth.