Jakarta, 3 May 2010 – In April 2009, Bank Andara established by a consortium of socially motivated and financially experienced shareholders, including the International Finance Corporation (IFC) and Mr. I Wayan Gatha. The Bank was created to bridge a gap in the market between the formal and informal financial sectors and work as strategic business partner to Indonesian MFIs, to deliver its social mission of helping millions of unbanked low income Indonesians access financial services and products through small local MFIs.
“Bank Andara is the first pro poor wholesale commercial bank of its kind in the world. It exclusively serves as the strategic banking partner to the Indonesian microfinance sector. It aims to change the way microfinance works in Indonesia by offering a ‘one stop’ commercial partnership with small independent microfinance institutions (MFIs) enabling them to access financing, technology and MIS support so that they in turn can provide their customers with vital services and products that typically only commercial banks can provide, ultimately helping their customers build their livelihoods and reduce the risk of poverty,” said Paulus Wiranata, President Director of Bank Andara.
Through partnership with Bank Andara, MFIs can continue to effectively reach out to the poorest members of Indonesian society, and provide locally accessible needs driven services across the archipelago, from large urban slums to small rural fishing villages, to expand and build their businesses and outreach more effectively.
On this day, May 3, 2010, Bank Andara with DPD PERBARINDO DKI Jaya and surrounding areas will hold signing letter of agreement, which previously in August 2009 ABB products is already running in Bali with the number of current members joining as much as 100 BPRs.
Andara Bersama BPR is fund collection and management services which originated from the members of “Andara Bersama BPR” itself and from Bank Andara. The fund collection and management is intended to maintain liquidity ratio of “Andara Bersama BPR” members during mismatch of fund. Therefore, BPR will have the ability to prevent increasing amount of liquidity shortages. Andara Bersama BPR will soon be launch in East Java, Central Java and Yogyakarta.
Bank Andara is committed to providing Indonesian microfinance institutions with the support, services and products they need to help them grow and build their capacity and outreach to the underserved and unbanked low income Indonesians. Together they work to combat poverty and build the livelihoods of those most in need.