News Release


Sumitomo Mitsui Banking Corporation and PT Bank Central Asia Tbk Sign Memorandum of Understanding on Mutual Business Cooperation(1/1)

July 24, 2009

 

Sumitomo Mitsui Banking Corporation

 

Sumitomo Mitsui Banking Corporation and PT Bank Central Asia Tbk Sign Memorandum of Understanding on Mutual Business Cooperation

 

TOKYO , July 24, 2009--- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced today the signing of a memorandum of understanding (MOU) on mutual business cooperation with PT Bank Central Asia Tbk (BCA).

 

BCA is the largest privately-owned commercial bank in Indonesia with a great strength in retail and SME business in the country with its leading local financial products. This MOU aims to allow SMBC to provide enhanced financial services to its clients such as Japanese corporate customers in Indonesia by leveraging BCAfs broad branch network.

 

In addition, BCA and SMBC will explore the possibilities of further cooperation in new areas of business based on SMBCfs know-how in international finance such as syndicated loans and trade finance.

 

1.        Outline of MOU

 

(1)     Local Funding Support in Indonesia

SMBC will strengthen its ability to provide local currency finances to its clients in Indonesia such as Japanese corporate customers with BCAfs stable funding support to SMBC.

 

(2)     Collaboration in Cash Management Services (products, clearing)

SMBC will aim to provide wider Cash Management Services (CMS) to its clients by developing new CMS products such as collection of account receivables by leveraging BCAfs broad domestic network in Indonesia . In addition, by mutually using the clearing services of both banks in Indonesia and Japan , BCA and SMBC will enhance the convenience of the above-mentioned CMS products and achieve better customer services and satisfaction.

 

(3)     Corporate Finance

BCA with its strength in Indonesia and SMBC with its know-how in international finance will work together to provide better services to both banksf corporate clients with various schemes in the areas such as syndicated loans and trade finance.

 

(4)     Other New Business Areas

BCA and SMBC will explore the possibilities of further cooperation in other new areas of business by combining each othersf above-mentioned strength.

 

2.        Highlights of PT Bank Central Asia Tbk

 

Establishment                   : 1955

Location of Head Office   : Menara BCA, Grand Indonesia Jl. MH Thamrin No. 1, Jakarta

Number of branches         : 844 (as of December 31, 2008)

Total Assets                     : IDR 245.6 trillion (USD 21.5 billion) (as of December 31, 2008)

Capital Adequacy Ratio    : 15.8% (as of December 31, 2008)

Listing                             : Indonesia Stock Exchange ( Jakarta )

Ratings                            : Moodyfs: B1 (Long Term), Fitch: BB (Long Term)

 




To News Release Top Page

Go to top of page