After a gap of nearly five years, Bank Internasional Indonesia is reviving its operations in India under its new promoter, the Malaysia-based Maybank group. Commercial banking operations of the bank will resume with a capital of $28 million from its single-branch office in Mumbai with an initial focus on corporate banking.
Datuk Abdul Farid Alias, president and CEO, Maybank group said that the bank has almost equal exposure in all segments, and multiple channels to address consumer markets in India. The obvious thing for the bank to do in India is to address the corporate banking market, which is fairly consistent with its own strategy as well.
He hoped that the robust trade flows, investments and remittances between India and Asean will it capture the (corporate) business in India.