JAKARTA (Indonesia Today) – Bank Ekonomi Raharja, subsidiary of HSBC, plans to open up 13 new branches next year, Kontan business paper reported.
The bank opens three branches this year. The bank currently operates 97 branches in 28 cities. The new branches will expand Bank Ekonomi’s coverage to 33 cities.
“We will open branches in two cities in Java, and one each in Sulawesi, Kalimantan, and Sumatra,” said Tony Turner, president director of Bank Ekonomi.
Tony said the expansion is part of the bank’s long-term strategy, whose results will hopefully be seen in two or three years time.
Bank Ekonomi booked comprehensive net profit of Rp134.6 billion in the first half of 2012, inched up from Rp127 billion in the corresponding period of 2011 despite lower net interest income at Rp454 billion.