BBVA has opened a representative office in Jakarta (Indonesia), through which it will help Spanish companies enter this market with massive potential. The new office, which started operating at the end of August, also aims to be a strategic platform for detecting business opportunities in the country.
From this new location, the Spanish bank will primarily offer products focused on capital market activities and trade finance. These services are of particular interest in a country that is posting economic growth of 5% to 6% and has 250 million inhabitants, of which 70 million are middle class.
Indonesia’s economic circumstances and its urgent need to develop infrastructure attest to the business and investment opportunities that BBVA’s customers can find in the country. Furthermore, historic industrial collaboration between Spain and Indonesia reinforces the image the Asian country has of Spain as a major trade partner.
Carlos Gastón, who has been working in the Asian market for 20 years, is BBVA Chief Representative Officer in Jakarta. Gastón believes “the growing interest of Spanish companies in this market combined with BBVA’s experience in the region should allow us to become leaders in the intermediation of increasing trade flows between Indonesia and the main regions in which we operate”.
BBVA is the only Spanish financial institution present in Indonesia, a country in which it has an extensive advisory experience and where it has been a leader in ECA (Export Credit Agencies) financing for many years.
The BBVA office is located in SCBD, Jakarta’s new financial district, next to the Stock Exchange. Jakarta is the economic hub of the country.