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Late 2009 target for OCBC’s Islamic unit

Posted on 25 March 2009

From Thejakartaglobe.com: PT Bank OCBC NISP Tbk expects to launch a Shariah banking unit in the second half of 2009, with full operation expected to start next year in three branches in Jakarta, Surabaya, East Java Province, and Bandung, West Java Province.

Parwati Surjaudaja, the bank’s president director, said on Monday that OCBC NISP, which is 74.73 percent controlled by Singapore’s OCBC Bank, had allocated Rp 100 billion ($8.7 million) for the Shariah unit and projected capital expenditures of Rp 2 billion to Rp 3 billion…..Full Article: Source

 
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