PermataBank Company Overview

Founding Date and Background

PermataBank was founded in 2002, emerging as a significant player in Indonesia's banking sector. Established to provide a wide range of financial services, the bank has positioned itself as a trusted partner for individuals and businesses alike. With a focus on innovation and customer-centric solutions, PermataBank has continually adapted to the evolving needs of its clientele.

Parent Company/Ownership Structure

In 2020, Bangkok Bank Public Company Limited became the controlling shareholder of PermataBank, acquiring 89.12% of its shares from Standard Chartered Bank and Astra International. This acquisition marked a significant shift in the bank's ownership structure, aligning it with a major international banking institution. The partnership with Bangkok Bank has facilitated enhanced resources and expertise, further strengthening PermataBank's market position.

Headquarters Location

PermataBank's headquarters is located in Jakarta, Indonesia, specifically at World Trade Center II, Jl. Jend. Sudirman Kav. 29-31, Jakarta 12920. This strategic location in the capital city allows the bank to maintain close ties with regulatory authorities and other financial institutions.

Global Business Scope

While primarily focused on the Indonesian market, PermataBank's affiliation with Bangkok Bank provides opportunities for international expansion and collaboration. The bank offers a comprehensive suite of banking products and services, catering to both retail and corporate clients. Its global partnership enhances its capabilities in trade finance, foreign exchange, and other international banking services.

Main Regulatory Bodies

PermataBank operates under the supervision of several regulatory bodies, including:

• Bank Indonesia (the central bank of Indonesia)
• Otoritas Jasa Keuangan (OJK) or the Financial Services Authority of Indonesia

  These regulatory entities ensure that PermataBank adheres to the necessary financial regulations and maintains the integrity of its operations.

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Company History and Development

Key Milestones

Since its inception, PermataBank has achieved several key milestones:

• 2002: Establishment of PermataBank, offering a range of banking services.
• 2004: Acquisition by Standard Chartered Bank and Astra International, leading to a significant transformation in operations.
• 2020: Acquisition by Bangkok Bank, positioning PermataBank for further growth and expansion.

Business Expansion Journey

PermataBank has consistently expanded its service offerings and geographic reach. Initially focused on traditional banking services, the bank has diversified into digital banking and Islamic finance to cater to the diverse needs of its customers. This expansion has been supported by strategic partnerships and technological advancements.

Customer Base Growth

Over the years, PermataBank has grown its customer base significantly, serving millions of individuals and businesses across Indonesia. The bank's commitment to customer service and innovative solutions has attracted a loyal clientele, contributing to its position as one of the top banks in the country.

Platform Development History

PermataBank has invested in digital transformation to enhance its banking platform. The launch of the PermataMe app has provided customers with convenient access to banking services, allowing for seamless transactions and account management. The bank continues to innovate its digital offerings to meet the demands of tech-savvy customers.

Important Awards or Recognitions Received

PermataBank has received various awards for its contributions to the banking sector, including recognition for its customer service excellence and innovative banking solutions. These accolades reflect the bank's commitment to providing high-quality financial services.

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Trading Services Offered

Forex Trading Options

PermataBank offers a range of forex trading options, facilitating transactions in multiple currency pairs. The bank's forex services are designed to cater to both individual traders and corporate clients, providing competitive rates and efficient execution.

Stock Trading Options

In addition to forex, PermataBank provides stock trading services, allowing customers to invest in various Indonesian stocks. The bank's trading platform offers tools and resources to assist investors in making informed decisions.

CFD Trading Products

PermataBank also offers Contracts for Difference (CFDs) on various financial instruments, enabling clients to trade on price movements without owning the underlying asset. This service provides flexibility and opportunities for traders looking to capitalize on market fluctuations.

Other Financial Instruments

The bank has expanded its offerings to include other financial instruments such as commodities and cryptocurrencies. By diversifying its product range, PermataBank aims to meet the diverse investment needs of its customers.

Special Services or Unique Advantages

PermataBank distinguishes itself through its commitment to customer service and innovative technology. The bank's digital platforms provide users with real-time market data, research tools, and personalized support, enhancing the trading experience.

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Regulatory and Legal Background

Detailed Regulatory Information

PermataBank is regulated by several authorities, ensuring compliance with local and international banking standards. Key regulatory bodies include:

• Bank Indonesia
• Otoritas Jasa Keuangan (OJK)

These organizations oversee the bank's operations, ensuring transparency and financial stability.

Legal Entity Structure by Region

PermataBank operates primarily within Indonesia, adhering to the legal and regulatory frameworks established by Indonesian law. The bank's structure allows for efficient management and compliance with local regulations.

Client Fund Protection Measures

To protect client funds, PermataBank implements robust security measures and adheres to regulatory requirements for fund safeguarding. This includes maintaining a separation of client funds from the bank's operational funds.

Countries/Regions Served

While PermataBank primarily serves the Indonesian market, its affiliation with Bangkok Bank opens opportunities for cross-border transactions and services. The bank aims to expand its reach in Southeast Asia and beyond.

Compliance History

PermataBank has maintained a strong compliance record, demonstrating its commitment to adhering to regulatory standards. The bank regularly undergoes audits and assessments to ensure compliance with applicable laws and regulations.

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Competitive Landscape

3-5 Main Competitors

PermataBank faces competition from several key players in the Indonesian banking sector, including:

1. Bank Mandiri: One of the largest banks in Indonesia, offering a comprehensive range of financial services.
2. BCA (Bank Central Asia): A leading private bank known for its extensive branch network and digital banking capabilities.
3. BNI (Bank Negara Indonesia): A state-owned bank with a significant presence in retail and corporate banking.
4. CIMB Niaga: A prominent player in the banking industry, focusing on retail and commercial banking services.

Positioning in the Industry

PermataBank positions itself as a customer-centric bank, emphasizing innovation and digital transformation. Its affiliation with Bangkok Bank enhances its credibility and resources, allowing it to compete effectively in the market.

Market Differentiation Factors

PermataBank differentiates itself through its focus on digital banking solutions, personalized customer service, and a diverse range of financial products. The bank's commitment to Islamic finance and sustainable banking practices further enhances its appeal to a broad customer base.

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In conclusion, PermataBank has established itself as a significant player in Indonesia's banking sector, driven by a commitment to customer service, innovation, and regulatory compliance. With a strong foundation and strategic partnerships, the bank is well-positioned for future growth and expansion in the evolving financial landscape.

For more information on PermataBank and its services, learn more.