Rabobank Indonesia (short for PT Bank Rabobank International Indonesia) has announced that it is to phase out its operations in Indonesia starting per direct. The decision was made by the bank's shareholders. Fierce competition in Indonesia's banking industry, which particularly hurts the smaller banks, is believed to be the main reason behind the decision.

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The Rabobank Group, a Dutch multinational banking and financial services company with its headquarters in Utrecht, has injected USD $35 million worth of capital into its Indonesian subsidiary Rabobank Indonesia. Martyn Schouten, President Director at Rabobank Indonesia, said that the capital injection is carried out to support Rabobank Indonesia’s business expansion in Southeast Asia’s largest economy. He added that the Indonesian unit will play an increasingly important role in international business of the Rabobank Group.

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