Indonesia's bank of choice

Indonesia's market-based economy has finally recovered from the 1997 financial crisis. Economic growth is increasing year by year, while real per capita income has reached pre-crisis levels as growth continues to be driven by domestic consumption. In keeping with the country's current positive economic outlook, its banking sector has become more robust with Bank Mandiri leading the way.

Following the financial crisis, the Indonesian government and the Indonesian Bank Restructuring Agency (IBRA) implemented a radical restructuring and recapitalization program aimed at creating more capable banking institutions equipped to serve a modern economy.

In July 1999, four State-owned banks merged to form Bank Mandiri. Today, it is the largest bank in the country in terms of loans, deposits and assets (valued at $25.7 billion).

The bank focuses on providing investment banking, Shariah banking, and other financial services to private and State-owned entities, commercial, small and micro businesses, and retail consumers. Bank Mandiri's corporate customer base represents the core of Indonesia's economy and its export sector, namely the mining, retail, cement, power, oil and gas and aviation industries.

The bank's three main subsidiaries are Bank Syariah Mandiri, Mandiri Sekuritas and AXA Mandiri.

With a strong and professional management team operating under stringent internationally recognized principles of corporate governance, control and compliance, the bank has grown to become one of the country's most successful financial institutions.

Also, Bank Mandiri's $23 million investment to upgrade its technology platform has allowed it to unify interfaces for customers and increase the effectiveness of back office processing.

Meanwhile, the bank is ready to face challenges and grasp future opportunities in the financial services and banking sectors. In recognition of the increasingly important Chinese financial sector, Bank Mandiri opened a representative office in Shanghai in 2004 and is witnessing heightened interest in its services offered in China.

www.bankmandiri.co.id

(China Daily 08/17/2007 page18)