Established in 1992, Bank Victoria is a leading private commercial bank based in Jakarta. Listed on the Jakarta Stock Exchange, the bank serves individual customers as well as corporations from across the Greater Jakarta area. Supported by its implementation of sound corporate governance policies, the bank is well-known for providing banking and other financial and risk management services to Indonesia’s MSME sector. As such, Bank Victoria offers a comprehensive array of personalised products and services that cater to the specific needs of this segment. The bank attributes the strength of its cooperation to the development of its Good Corporate Governance principles (GCG); of which Bank Victoria’s self-assessment was positioned in the 'Good' category. Through this constant self-assessment of its performance and customer-centric service, Bank Victoria has established a loyal customer base as evident from the increasing number of third party funds which totalled 17.17 billion IDR in 2015, an increase of 6.15% from 16.17 billion IDR from 2014.
Implementing effective corporate governance has been critical to the sound functioning of the bank and in doing so; Bank Victoria promotes public image confidence among stakeholders and shareholders as well as operating with better efficiency. This is showcased through the robust and transparent decision-making process and risk management policies adopted by its Board of Directors and other senior level management.
Under such leadership, Bank Victoria’s dynamic and adept workforce is able to respond to changing external regulations, and in turn provide quality services to its clients. This is highlighted through its efficient and fast system for credit and loan applications, illustrating Bank Victoria's understanding for the importance of a fast and reliable loan disbursal service to its individual and corporate clients.
Building on this understanding, the bank has broadened its products and services portfolio to cater to the increasingly tech-savvy MSMEs; part of this scope includes the establishment of a shariah entity in addition to a mobile and internet banking service. With many MSMEs having established an e-commerce presence, the bank looks to take advantage of this platform by providing a comprehensive on-demand service. This will provide greater financial convenience for customers in addition to benefitting the bank through supply chain financing as e-invoicing and e-purchasing systems become better integrated.
Indonesia, having one of the largest unbanked populations among its peers in the ASEAN presents a considerable opportunity for financial institutions looking to expand their customer base. Going forward, Bank Victoria will continue to extend its reach across the archipelago through its distinct personalised approach to every customer.
1992
Private
23.25 trillion IDR
70.17
93.89%
20.38%
103 (Branch Offices, Supporting Branch Offices and Office Networks)
Consumer Banking, Retail Banking, MSME Banking Services
As a well-established financial institution, Bank Victoria welcomes collaborations with international partners to expand its consumer base in Indonesia. Bank Victoria’s focus on MSME financing is part of its long-term strategy for sustainable growth and forward-thinking approach to supporting an integral segment of Indonesia’s economy. Furthermore, with the implementation of the AEC, Indonesian MSMEs facing increasing competition from among its ASEAN peers. As such, Bank Victoria seeks to establish international partnerships with financial institutions to foster this potential through the development of more diverse products and services to cater to Indonesian MSMEs looking to expand in the ASEAN region.
The bank is also seeking international partners that can develop and improve the bank’s capabilities in human capital management as well as the utilisation of information technology. The use of the latest modern technology will provide Bank Victoria with a competitive advantage among Indonesia’s 100 banks.
Bank Victoria has maintained a growing presence across the Greater Jakarta region. The bank currently has 103 branches and has subsequently taken advantage of the economic growth of Indonesia’s secondary cities by expanding in Bandung, Manado and Surabaya. This provides the potential to serve the considerable unbanked population as well as offer a more diverse range of products and services to the under-served segment of the population.
The bank seeks investment to extend its operations in Indonesia and capitalise on the country’s large unbanked population. With increasing disposable incomes, Bank Victoria’s expansion plans will primarily focus on the retail consumer market which has continued to rise among Indonesia’s unbanked population.
On 17th December 2016, Bank Victoria signed an MOU with local insurance provider Capital Life Indonesia. Through this cooperation, Capital Life Indonesia will make available a variety of life insurance products for Bank Victoria customers, and, as such, further demonstrates the bank’s ongoing commitment to providing bancassurance programmes.
Read MoreOn 14th December 2016, Bank Victoria forged a partnership with renowned life insurance company, Asuransi Jiwa Sinarmas MSIG, that seeks to improve upon the bank’s products and services. As part of the newly-established cooperation, Bank Victoria makes available product advantages for its VIP Medical Plan, VIP Hospital Plan, and VIP Edu Plan Insurance programmes.
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