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Business

Japanese financial giants casting wider net in Indonesia

Sumitomo Mitsui's local affiliate, BTPN, is known for its services for pensioners and women on farms.

JAKARTA -- Indonesia is making the radar of Japan's banking and insurance giants, as the world's fourth-biggest country is poised for a great leap forward.

     Sumitomo Mitsui Banking, the lending unit of one of Japan's three megabanks, has decided to tap into Indonesia's low-income class of 60 million to 70 million -- people who currently have no bank account -- as potential customers for cellular phone-based banking services.

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