DBS INDONESIA AND SUMITOMO MITSUI TRUST BANK
JOIN FORCES TO BOOST INDONESIAN ECONOMIC ACTIVITIES
JAKARTA, December 17, 2012 - PT Bank DBS Indonesia (“DBS Indonesia”) today entered into an agreement with Sumitomo Mitsui Trust Bank, Limited (“SMTB”), the main entity within Sumitomo Mitsui Trust Group (“SuMi TRUST”), to provide end-to-end financial and banking services to Japanese companies in Indonesia. The partnership was formalised through a signing of MoU between the two parties where DBS Indonesia was represented by Mr. Melvin Teo while Mr. Hidehiko Asai signed the agreement on behalf of SMTB.
The agreement is a continuation of the regional partnership between DBS Group and SMTB, signed in May 2011. The partnership between DBS Indonesia and SMTB will provide Japanese companies with insights on doing business in Indonesia. It will also leverage DBS Indonesia’s capabilities to provide Japanese companies with wider and more sophisticated banking products and services such as trade finance, cash management and foreign exchange services. In addition, it will help boost business opportunities for Indonesian companies in Japan.
Mr. Melvin Teo, President Director of DBS Indonesia said, “Japan has always been an important trading partner for Indonesia. We are delighted to be partnering with SMTB. This partnership not only provides Japanese companies with business insights and banking services, but also serves as a platform to better support Indonesian businesses wanting to tap into the Japanese market. Many of our clients are commodities companies that can benefit from expanded market access in Japan. This MoU is an ideal partnership as it will provide an end-to-end supply chain for Indonesia-Japan trade activities.”
Mr. Hidehiko Asai, Managing Executive Officer of SMTB said: “As one of the fastest growing markets in the world, Indonesia offers huge business potential for many Japanese companies. We would like to seize this opportunity by leveraging DBS Indonesia’s insights and products for our client base. With this partnership, we can develop the best solutions and offerings for both Japanese companies that already have a business presence in Indonesia, as well as Indonesian companies that would like to expand into the Japanese market.”
Through this strategic partnership, DBS Indonesia will assign Japanese experts and specialists to serve not only SMTB’s client base and Japanese accounts, but also to 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”.
This MoU also paves the way for other joint efforts in the future, such as a 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 this Council is to promote business activities between Indonesia and Japan, as well as to support Indonesia’s economic growth.
About SuMi TRUST and SMTB
SuMi TRUST was established in April 2011 through the management integration of Chuo Mitsui Trust Holdings, Inc. and The Sumitomo Trust and Banking, Co., Ltd. Based on the “Trustee Spirit” and with significant expertise and comprehensive capabilities, “SuMi TRUST” will create distinct values by leveraging a new business model, combining its banking, asset management and administration, and real estate businesses, and will move onto the global stage as a leading trust bank group which boasts the largest and highest status in Japan.
As of April 1, 2012, SuMi TRUST has established a new trust bank as Sumitomo Mitsui Trust Bank, Limited through the merger of three trust bank subsidiaries. With the establishment of SMTB which has the largest scale in most of the major business areas in the trust banking industry, SuMi TRUST’s ”The Trust Bank” has gotten off to a full-fledged start. We will swiftly accelerate our efforts to build a new business model to be able to create unique value-added services as “The Trust Bank” with a firm presence not only in the trust banking industry but also in the financial industry. For more information, please visit http://www.smth.jp/en/index.html
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 200 branches across 15 markets. Headquartered and listed in Singapore, DBS is a market leader in Singapore with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia. The bank's strong capital position, as well as "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for four consecutive years, from 2009 to 2012. In 2012, DBS was named Asia’s Best Bank by The Banker, a member of the Financial Times group, and Derivatives House of the Year, Asia ex-Japan, by Asia Risk.
DBS provides the full range of services in consumer, SME and corporate banking activities across Asia and the Middle East. As a bank born and bred in Asia, DBS also understands the intricacies of doing business in the region’s most dynamic markets. This market insight and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. The bank believes that building lasting relationships with its customers is an integral part of banking the Asian way.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 18,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com
About PT Bank DBS Indonesia
Since its establishment in 1997, PT Bank DBS Indonesia ("DBSI") has grown its branch network from three in 2004 to 38 branches and sub-branches in 11 cities in Indonesia (Jakarta, Surabaya, Medan, Bandung, Semarang, Yogyakarta, Pekanbaru, Palembang, Makassar, Pontianak, Samarinda). The launch of five consumer finance centres known as "Rumah DBS" has further expanded DBSI's customer franchise.
With over 1,100 dedicated and experienced staff and a network spanning across four major islands in Indonesia, DBSI is actively involved with local communities through its cultivation of young talent to become managers across its businesses. DBSI also organises voluntary charitable programmes to help underprivileged children and extends its commitment to support and provide capacity building for social entrepreneurs in Indonesia.