Foreign Banks Vie for Bigger Slice of Consumer Segment Cake

Several banks under the control of foreign investors are engaging in intense competition for a share of the consumer banking segment. They are leveraging acquired assets to strengthen their position in the banking industry.

Arlina Laras

12 Des 2023 - 21.22
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Foreign Banks Vie for Bigger Slice of Consumer Segment Cake

An employee serves customer at PT Bank Danamon Indonesia Tbk.branch in Jakarta. Photo/JIBI-Fanny Kusumawardhani

Bisnis, JAKARTA — Several banks under the control of foreign investors are engaging in intense competition for a share of the consumer banking segment. They are leveraging acquired assets to strengthen their position in the banking industry.

Indonesian Banking Development Institute (LPPI) SVP Trioksa Siahaan believes that the competition in the retail business will intensify. This competition is expected to be fierce not only among foreign banks but also among local banks, regional development banks (BPD), and people's economic banks (BPR).

“There will be intense competition, particularly in the retail credit segment classified as safe. This competition will likely focus on segments such as credit for civil servants (ASN), where banks will target this specific group,” he told Bisnis, Monday (11/12).

Additionally, there will be competition in the productive retail segment, where banks will strive to leverage their retail ecosystem. Interestingly, following the withdrawal of foreign banks like Citibank, Standard Chartered, and Bank Commonwealth Indonesia from the retail business, other foreign banks are prepared to compete and strengthen their presence in the consumer credit segment targeting individual customers.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Aprilian Hermawan
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Foreign Banks Vie for Bigger Slice of Consumer Segment Cake

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