Rabobank Indonesia

The year 2006 was indeed a very exciting year for Rabobank. Besides running the wholesale bank, we started a major initiative to build our retail presence in the biggest F&A market in Asia, via the aqcuisition of Hagabank and Bank Hagakita.

This synergy is expected to create a cross-selling Rabobank’s products to Hagabank-Bank Hagakita clients and vice versa. The business plan of the merged entity contains the following highlights: 

Expansion in F&A regions/areas via: opening of new branches (mainly in the F&A-rich areas in Indonesia); cross-selling to existing clients and targetting new clients offering new products; upgrading of risk management process; gradual upgrading of IT environment in four years’ time and capital injection.

The acquisition of Hagabank and Bank Hagakita will add a new dimension to the business scope of Rabobank Indonesia. Rabobank Indonesia as a focused wholesale operation and Hagabank and Bank Hagakita as banks operating in the small and medium sized enterprises (SME) will integrate their operations with as ultimate goal a complete merger.

The ingredients for success are there:

• The businesses of the banks are complimentary, there is hardly any overlap.
• Hagabank/Bank Hagakita have, via their retail network, access to customer deposits, where Rrabobank Indonesia has better access to the international capital markets.
• Both Rabobank Indonesia and Hagabank and Bank Hagakita have experienced, dedicated and professional staff looking forward to participating in the challenging project.