Among the smouldering ashes of corporate banking in Indonesia, there is still money to be made. PT Bank DBS Indonesia DBS Indonesia was forced to forage for its revenue by changing its focus and taking on new risks. In the process it has proved that there is money to be made in one of Asia's riskiest countries.
Up until the middle of last year, DBS Indonesia was borrowing substantial amounts from its Singapore head office to fund its operations, and paying the price for it. The interest on the loans were subject to 10% withholding tax. According to Lee Meng Soon, president of DBS Indonesia,...
