The bank was called a “rice-bowl friend” — present for the good times, and a coward on the run when things got tough.
In the early years of the century, an Australian bank undertook a substantial expansion into Indonesia and China. It put up prominent advertisements at the Jakarta airport. Then, the Global Financial Crisis (GFC) hit, and the bank pulled out of Indonesia and China.
As the global economy improved, it tried to return to these markets. However, more than 15 years later, it is still unsuccessful in re-establishing its foothold in China or Indonesia.
