Bank Internasional Indonesia (BII) re-enters India after 5 years.
Bank Internasional Indonesia (BII) marked its re-entry into India after five years by opening a branch in Mumbai. The bank was operational in India from 1996 to 2008.
In 2008, BII was bought over by Malaysia-based Maybank, which holds 88 per cent in BII. The foreign bank’s India operations became inactive after 2008.
The Bank will concentrate on the small- and mid-corporate segments and it will work with Indian companies having operations in Malaysia and Indonesia and vice-versa and engage with them for end-to-end transactions. Starting with a capital base of $28 billion and 18 employees, the foreign bank’s single Mumbai branch will focus on the corporate and commercial banking segment and will actively participate in buyers credit (BC) and external commercial borrowing (ECB) arrangements for Indian customers.