Hendra Gunawan, new CEO for DBS Indonesia

PT Bank DBS Indonesia has appointed Hendra Gunawan as its new CEO of the bank and Bernard Tan as commissioner. 

Hendra Gunawan joined DBS in January 2003 and was most recently vice president of DBS Indonesia in charge of corporate and investment banking. DBS told Singapore Stock Exchange (SGX) this morning that in his new capacity, Gunawan will be responsible for leading and growing the DBS franchise in Indonesia. Gunawan, 39, was previously with Deutsche Bank AG, Singapore, and PT Schroeder Investment Management Indonesia.

Meanwhile Bernard Tan joined DBS early last year as managing director in debt capital markets. Prior to joining DBS, Mr Tan had a career in the Singapore military before moving to the banking and financial service sector.

DBS Indonesia, a subsidiary of DBS Bank, the largest bank in Singapore, achieved a record earnings last year. Its total assets increased by 16.3% to Rp24.2 trillion or about US$2.4 billion, while net profit surged 31% to Rp2.2 trillion. As of May 2009, the bank's CAR stands at 23.8%.

DBS has aggressively expanded its network in Indonesia and now has 40 branches and sub-branches across the country. 

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