DZ Bank celebrates the opening of first representative office in Indonesia

10/12/2017 Latest News, Member News

On August 2, 2017, DZ Bank, the third largest bank in Germany by asset size and the central institution for more than 1,000 co-op banks and their 1,200 branch offices, celebrated the opening of its first branch office in Indonesia.

Held at the Fairmont Jakarta Hotel in Senayan, Jakarta, the event was commemorated via a ribbon cutting ceremony conducted by Mr. Wolfgang Kirsch, CEO of DZ Bank, and Mr. Hendrik Barkeling, German Deputy Chief of Mission at the German Embassy to Indonesia, along with Mrs. Monica Kwik Sri Kinarsih, Head of the DZ Bank Indonesia branch office in Jakarta.

“It’s an honor and a privilege to be here today... And I should like to thank all of you for sharing this special evening of the official opening of our representative office in Indonesia,” said Mr. Kirsch during his opening speech prior to the ribbon cutting ceremony.

“And I guess I don’t have to share with you the reason why we are opening here today,” he added. “The country has a huge market potential. Indonesia is among those countries to rival the G-7 countries economically one day. In other words, Indonesia is simply the place to be.”

Mr. Barkeling, who was also invited to give a speech, expressed his appreciation on behalf of the German Embassy to Indonesia towards DZ Bank.

“Mr. Kirsch, it underlines the committment of your bank to Indonesia, and it is a proof that, building on your already existing business, you’re ready to take it to the next level. This is good news not only for the German-Indonesian business community, but also for German-Indonesian relations more broadly,” he said.

DZ Bank’s Indonesian branch office has actually began operating in Jakarta in February of this year after The banking supervisory authority in Indonesia granted the bank a license to open a Representative Office in Jakarta. With 250 million inhabitants and average GDP growth of more than 5% a year Indonesia is currently one of the most attractive growth regions in the world. In the Indonesian market, DZ Bank already supports its corporate customers especially in the areas of trade and export finance.

At the time, Stefan Zeidler, DZ BANK's Board Member responsible for corporate banking, said: 'Our SME customers continue to make increasing use of business opportunities in the Asian growth markets. With the Representative Office in Jakarta we shall be able to offer them even more comprehensive support in the future.'

Besides the branches in Hong Kong and Singapore as well as the Representative Offices in Peking and Mumbai, DZ Bank is now represented at yet one more location in Asia. The network of locations abroad also encompasses branches in London and New York as well as Representative Offices in Istanbul, Moscow and São Paulo.