PT Bank ICBC Indonesia, hereinafter referred to as the “The Bank” or “Bank ICBC Indonesia”, is a bank formed from the acquisition of Bank Halim Indonesia, was headquartered in Surabaya by Industrial and Commercial Bank of China Limited (hereinafter referred to as “ICBC Limited”) , on September 28, 2007, and later renamed as PT Bank ICBC Indonesia. ICBC Limited was named the “Best Bank in China” by The Banker magazine from the UK for 3 (three) consecutive years (2014-2016). ICBC Limited was also named as the “Best Foreign Exchange Bank” according to the Global Finance magazine from the US in 2016. ICBC Limited controls 98.61% of The Bank’s shares, while the remaining 1.39% is owned by PT Intidana Wijaya.
The acquisition of Bank Halim Indonesia by ICBC Limited is an example of a successful takeover of a local bank by a foreign bank originating from China. This is a good starting point to build the foundation for The Bank’s next successes. The increasing demand for products and services after this acquisition prompted The Bank to relocate its headquarter from Surabaya to Jakarta in December 2007.
The Bank benefits from its strategic geographical position, adequate networking, banking system support from ICBC Limited, and high Shareholder trust, enabling the Bank to provide high quality and efficient banking services and products to both corporate and individual Customers. By the end of 2017, The Bank has 21 branch networks spread over 7 (seven) provinces in Indonesia, namely, DKI Jakarta, West Java, East Java, North Sumatra, Riau Islands, East Kalimantan and South Sulawesi, with the number of employees reaching 649 people. To facilitate access for Customers to savings accounts, The Bank has integrated its ATM network with ICBC Limited and ATM Bersama’s networks. Thus, The Bank Customers can use ICBC Indonesia ATM Cards not only in ICBC ATM terminal in Indonesia, but also in more than 100,000 ICBC Ltd ATMs in China and 77,000 other bank ATMs incorporated into the ATM Bersama network.
After 1 (one) decade of operations, The Bank has not only demonstrated a rapid increase in balance sheets and profitability, but has also developed comprehensive products and services that fit the needs of Customers. The Bank will utilize what has been done in the past decade such as vast resource utilization from ICBC Limited’s, global reach, and advanced technology to achieve higher performance. In addition, the development of the bilateral relationship between Indonesia and China provides an opportunity for The Bank to maximize its mission achievement to become an economic, financial and cultural bridge between the two countries by offering various products and services to Corporate and Commercial, Retail, as well as Small and Medium Enterprises (SME).
The transformation strategy that has been implemented in the last few years will be continued in the next 5 (five) years so that the Bank will become a leading financial institution with the best service, performance and contribution, and be able to contribute more to the economic development of Indonesia. The transformation was carried out, among others, through the selection of segments of SOE and blue chip Customers, the change in the Bank’s revenue structure which focused on the growth of commission income contribution, the Bank’s funding structure changes that emphasized on the growth of Third Party Funds, especially current accounts and savings, accelerating growth of consumer business, strengthening internal monitoring, and acceleration of technology transfer from ICBC Limited.
NAME AND LEGAL ENTITY STATUS CHANGE
The Bank is the result of an acquisition process from Bank Halim Indonesia. The Bank was first established under the name of PT Bankit in 1970. In 1989 it changed its name to Bank Halim Indonesia. On June 6, 2007, after going through the acquisition process by ICBC Limited, it changed its name to PT Bank ICBC Indonesia.