State-controlled PT Bank Rakyat Indonesia Tbk (BBRI) plans to buy a satellite worth around $250 million to support its network connection, while waiting for permission to use orbital slot in the sky.
Focusing on micro lending, the bank considers buying satellite as more efficient than renting transponders to telecommunication providers.
As of December 2013, it has 9,808 branches and 18,292 ATMs; such number of branches and ATMs must be connected all the time. The lender booked net profit of Rp21.16 trillion in full year 2013, growing 14.2% in the earlier period as credit grew by 23.7% to Rp430.62 trillion by end of last year.
Source: PT Bank Rakyat Indonesia Tbk (BBRI) President Director Sofyan Basir at a media briefing in Jakarta, January 22, 2014