In the post-crisis period, foreign and joint venture banks moved relatively slowly in restoring their levels of lending. When other banks embarked on credit expansion in mid-2001, lending by foreign banks on contrary declined and even showed a negative credit expansion during the 2002-2003 period.
Going forward, I expect and would like to see foreign banks and joint venture banks to participate more in Indonesia’s economic revival through its financing activities as often said by their officials. With the larger presence of foreign banks in the banking industry, it is understandable that the number of expatriate staffs in Indonesia is on the increase.