Renowned commercial banking institution Bank Victoria recently opened its new branch in the city of Manado in North Sulawesi province. Located in the largest shopping centre in Manado, Bank Victoria’s latest branch is part of the company’s expansion plans to capitalise upon the rising economic growth of Indonesia’s secondary cities. The outlet will provide the bank’s fully-fledged services from savings and deposits accounts to consumer financing and working capital.
Bank Victoria’s new branch will be the first to be established outside of the island of Java and aims to have a strong focus on acquiring new customers as well as serve existing ones. Furthermore, the bank’s successful cooperation with retail partners will enable the company to improve efficiency of its nationwide branch network in addition to offering greater financial convenience to customers. In adopting this approach to opening branches in retail outlets, Bank Victoria will also increase the availability of banking services to its customers in Manado which can enhance its brand image and create greater customer loyalty.
As Manado’s economy continues to grow due to the sectors in trade, hospitality and construction supporting the local economy, there is a large potential for investment loans especially for small and medium sized enterprises. As such, Bank Victoria’s prudent approach to investment and Good Corporate Governance principles can facilitate the development of businesses in Manado, and thus advance SME financing and increase the city’s competitiveness.