medcom.id, Jakarta: PT Bank Mandiri Tbk (BMRI) is confident to face banking sector liberalization in ASEAN as Indonesian banks has accustomed to compete with foreign banks.
"We have been prepared since 2002 when foreign banks started to enter (Indonesia). The question is whether Singapore is prepared?" said Chief Financial Officer of Bank Mandiri, Kartika Wirjoatmodjo, in his office, Jakarta, Thursday (1/21/2016).
Foreign banks has penetrated in every corner of the country. Some of them also acquire shares of Indonesian banks. However, Kartika said the presence of foreign banks gives benefit to national banking sector since competition makes banks issue attractive interest rate margin.
"We havelarge margin here, up to 18 percent, this is not available anywhere else," she mentioned.
In the other side , Kartika said neighboring countries such as Malaysia and Singapore still to limit foreign banks. "We are accustomed to competition, if it is said that we are not expansive, maybe it is because the regulation in their countries," she explained.
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