I Love Indonesia

Bank Rakyat Indonesia It is currently 70% government owned operating company and has been government owned for the entire period since the war of independence (1945 to 1949) to November 2003, when 30% of its shares were sold through an IPO. BRI was founded in 1895, during the Dutch colonial period as "De Poerwokertosche Hulp en Spaarbank der Inlandsche Hoofden", by Raden Aria Wirjaatmadja in Purwokerto, Central Java. It then underwent its 1st name changes to "Hulp-en Spaarbank der Inlandsche Bestuurs Ambtenaren" (tr. Aid and Savings Bank for Local Civil Servants). Going through several name changes, its final name during the colonial period was "Algemene Volkscredietbank ", or People's General Credit Bank, in 1934. This translates loosely into Indonesian as "Bank Rakyat Serikat". At this point it was one of the largest institutions in the (then) colony. The bank's operations were affected by the Japanese occupation during the 1942 to 19...