1. Ian Whitehead Executive General Manager Indonesia
Commonwealth Bank of Australia
Ian Whitehead Executive General Manager Indonesia

2. Supported by 2,338 staff, an increase 58% from 2009, 1,504 staff
Commonwealth Bank - in Indonesia
Supported by 2,338 staff, an increase 58% from 2009, 1,504 staff
Commenced in Indonesia – 1992, 99% owned by Commonwealth Bank
91 branches in 32 cities, with more planned in the future
142 ATMs, partnership agreements Bersama / Prima/ BCA, access via 70,000 ATM’s in Indonesia
Over 300,000 customers, Internet and Mobile Banking & 24 hours Call Center (021)
24 hours Live Facebook &

3. Supported by 428 staff, an increase of 7% from 2009, 398 staff
Commonwealth Life - in Indonesia
Supported by 428 staff, an increase of 7% from 2009, 398 staff
Commenced in Indonesia – 1992
Commonwealth Life - 80% owned by Commonwealth Bank, 20% by PT Gala Arta Jaya.
34 offices across 20 major cities, more than 9,000 Sales Agents across Indonesia  
24 hours Call Center (021)

4. Supported by 33 staff, an increase of 37% from 2009, 24 staff
First State Investments - in Indonesia
Supported by 33 staff, an increase of 37% from 2009, 24 staff
First State Investments
Commenced in Indonesia – 2003
Distributions partners: 26 (banks and securities companies)

5. Commonwealth Bank Group - in Indonesia
……over 3,000 staff ….
……and over 900,000 customers….

6. What is important……….
Getting “parent / shareholder” engagement from the start….
Ensuring head office spends time in the market (touching and feeling)
Ensuring the local team know that the head office supports the business – not only with investment, but wants to learn understand (and not judge)
Developing deep, wide networks and relationships – and spending time investing in them.
Recognising cultural differences - Indonesian customs and culture – language religious, ethnicity, cross cultural etc…
Developing a strong local team

7. Closing Comments……….
The importance of doing your homework, knowing and operating in Indonesia for some time, and “know” before the investment decisions;
Choosing the right local partner – and making sure that there is an alignment of interests; invest in that relationship.
Choosing good local advisors, who have experience, in your sector, across regulatory, legal, provincial complexities.
Developing capability transfer and corporate social responsibility programmes that partner with local communities and make it clear you are a long term investor (and commitment).
Accepting that risk cannot be eliminated but managed – and therefore adopting a risk framework that takes into account local conditions;

8. Closing Comments………. Finally, patience and perseverance
Create a culture that ensures the greater “organization” continues to learn about the markets they operate in (and the differences)

9. Thank you