Who's Moving Where In Wealth Management? - DBS, Indonesia

Editorial Staff

10 May 2021

DBS
has reportedly announced that its subsidiary PT. Bank Rakyat Indonesia Agroniaga (BRI Agro) has appointed Kaspar Situmorang as its new chief executive.

Situmorang has been instructed to build the bank into a fully digital bank, according to Fintech Singapore.

BRI Agro launched the Pinang app in February 2019 offering digital loans. At the end of 2020, Pinang loan disbursements totalled IDR70.6 billion ($4.87 million), the report said

Previously the division head of digital bank development and operations at Bank BRI, Situmorang also led its Digital Centers of Excellence division from 2017 to late 2020.

While not specifically aimed at the wealth sector, the bank is an example of digital banking developing across Southeast Asia.