INDONESIA - BANKING - BRI Syariah cuts more than a half of target of new branches

en.bisnis.com - JAKARTA: PT Bank Rakyat Indonesia Syariah, BRI's subsidiary, has changed a target of additional branches in this year to 70 new branch offices from the initial target to 150 offices.

BRI Syariah Director of Business Development Ari Purwandono said the measure is aimed to cut the expansion cost. (source)

INDONESIA - BANKING - BRI Syariah to open 150 new offices to boost credits

JAKARTA: PT Bank Rakyat Indonesia Syariah plans to open 150 new offices next year, aiming at reaching 60% growth target in loan disbursement.

The bank will expand its network in small cities of some islands in Indonesia.

Most of those offices will be supporting branch (KCP) since this type of office spends low operating cost, said BRI Syariah President Director Ventje Rahardjo. About 90% operating cost of a supporting branch goes to employee salary. In the meantime, investment to open an office is not more than IDR600 million.  (source)

INDONESIA - BANKING - Cashed-Up Bank Rakyat Hungry for Indonesian Finance Acquisitions

Bank Rakyat Indonesia, the country’s second-largest lender by assets, is seeking to buy into a local brokerage company or bank next year in a bid to expand its reach.

The Jakarta-based lender has set aside as much as Rp 2.5 trillion ($278 million) to fund the acquisition, a top executive said on Thursday.  (source)