Prisma Ardianto, Jakarta – Banks in the new capital are set to begin operations starting in the first quarter of 2026, according to a senior government official.

Construction in the new capital Nusantara is very much in progress. Before retiring last October, then President Joko "Jokowi" Widodo launched the construction of several banks' offices in the new capital, including the state-run bank Mandiri and the country's largest private lender BCA.

BRI, Bank Tabungan Negara (BTN), as well as Bankaltimtara are also constructing their respective offices in the city that lies in East Kalimantan.

According to New Capital Authority's chair Basuki Hadimuljono, these bank's offices are set to open their doors in 2026.

Mandiri broke ground on its digital services office in Nusantara last February. BRI is currently building an international microfinance center, while BCA invested up to Rp 75 billion, or nearly $4.6 million to set up its office in Nusantara. BTN is spending Rp 113 billion to build its office in a land that spans 9,000 square meters. Bankaltimtara's Rp 39 billion branch office is set to provide various banking services, including personal accounts and loans, once operational.

Basuki said the city's authority had met with the aforementioned banks to speed up the construction work in the new capital. These banks will support the city's financial ecosystem as more people, including government officials, will move to Nusantara later in the future.

"We are preparing the facilities. Mr. President has instructed us to make sure that the executive, legislative, and judicial activities will be able to take place in the new capital by 2028. Starting in 2025, we will pinpoint the locations for the road construction," Basuki said.

The ex-minister also confirmed that President Prabowo Subianto would begin working from Nusantara on Aug. 17, 2028, during which Indonesia would celebrate its 83rd Independence Day.

Source: https://jakartaglobe.id/business/banks-in-new-capital-to-begin-operations-next-yea