Deutsche Bank to boost global transaction banking services in Indonesia

Move due to Indonesia’s rising investment and strong domestic consumption.

Deutsche Bank wants to target customers in Indonesia for its global transaction banking services since it sees Indonesia as one of the countries with the best gross domestic product growth prospects.

A senior bank executive said the outlook for Indonesia is very positive, much better than many countries. The bank expects to see more global banking transactions from Indonesian lenders as Indonesia imports more raw materials to support its growing manufacturing sector.

The rising wealth of Indonesia’s middle class is also expected to boost consumer goods imports. Japan is building manufacturing plants in Indonesia and Deutsche Bank is ready to capture the opportunity should Indonesia become a manufacturing hub for some industries to serve other markets in Southeast Asia.

Deutsche Bank Markets Research recently issued an “Asia Economics Monthly” report that predicts Indonesia’s economy will maintain last year’s 6.2% growth for this year and 2014.

Indonesia’s top 10 banks by assets are Bank Mandiri, Bank Rakyat Indonesia, Bank Central Asia, Bank Negara Indonesia, Bank CIMB Niaga, Bank Danamon Indonesia, Bank Internasional Indonesia, Bank Permata, Bank Pan Indonesia and Bank Tabungan Negara