The Singapore-based group has been talking to a number of undisclosed PPPI (Indonesian 4As) agencies to handle an account estimated at US$2 million.
"Indonesia is one of OCBC Bank's key overseas markets and we are looking to appoint an agency to support us in our business there,” noted Koh Ching Ching, head of group corporate communications at OCBC Bank. She added: “We have met with several agencies and hope to make a selection by the end August."
OCBC Bank has branches in Jakarta, Surabaya, Medan and Bundung, and boosted its presence in Indonesia in 2005 when it entered a joint venture deal with Bank NISP. Bank NISP awarded its $2.5 million advertising business to MediaCom and Y&R in March, although sources deny the two companies are looking to consolidate their brands into a single agency or agency group.
Indonesia’s banking sector is one of the country’s fastest growing industries, with between 18 and 20 per cent growth in recent years. However, growth is expected to slow to 13 per cent this year.
