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Indonesia poor in banking penetration

Only 36% of the Indonesian population hasa access to banking, according to a recent World Bank report. In contrast, countries like Kenya and Thailand have managed to provide banking services to more than 70% of their population. An analyst from Bank Indonesia said only 36 of 100 adults have access to formal banks in the country whereas Kenya has managed to provide banking services to 75% of its adult population through mobile banking. He explained that it would be costly for financial institutions to establish branch offices across the country and Indonesia being an archipelagic island country would need reliable power and network services to support banking operations.

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