BEST PRIVATE BANK – INDONESIA INTERNATIONAL
Few and far between are those instances where a single foreign bank has come to dominate an Asian market in both investment and private banking. In Indonesia, however Credit Suisse has done just that, and is today the poster child of the ‘one bank’ approach in Asia.
In 2016, Credit Suisse sustained its competitive edge in investment banking, retaining its leading positions across equity and debt capital markets, structured lending and M&A—an area that the bank has dominated over the past 16 years, almost tripling its second closest competitor in terms of volume and number of deals.
In turn, Credit Suisse has successfully grown its already mature Indonesian UHNW business, particularly among mid-sized business owners. The bank’s dominance in the Indonesian wealth market is evidenced by the fact that it maintains relationships with over half of the nation’s 150 wealthiest. This is in addition to an ongoing expansion drive that includes a deepening of market share via a targeted sweep of prospects in second and third tier cities.
“Our value proposition is built on a few key pillars: local leadership that is committed to and has deep understanding of the market and a proven track record of strongly supporting our clients during crises, and having one of the largest and most experienced teams dedicated to Indonesian clients that we continue to build up strategically,” says Johanes Oeni, market group head, Indonesia, private banking Asia Pacific, Credit Suisse. “As the ‘Entrepreneurs’ Bank’, we have an excellent platform combining our established private banking legacy with being the gateway to our unique integrated bank platform for our UHNW clients and business owners, leveraging our investment banking leadership in Indonesia over the past 16 years.”
The combined efforts of a universal bank typically benefits multiple business lines; and in the case of Credit Suisse’s private banking arm, the Swiss bank’s prowess in Indonesia has translated into robust profit growth and an increase in client assets of over 10% (CAGR) over the past few years.
Credit Suisse is Asian Private Banker’s Best Private Bank – Indonesia International for 2016.