Wednesday, November 14, 2007

BANK MANDIRI



About Us


Corporate Profile

Bank Mandiri os Indonesia's largest bank in terms of assets, loans and deposits. Total assets as of March 31, 2002 were Rp 261,9 trillion, or around 24% of the assets in the banking system. With a net profit of Rp 1.17 trillion as of March 31, 2002 (an increase of 270% from same period 2001), Bank Mandiri is the most profitable bank in Indonesia. Bank Mandiri is also one of the best capitalized banks in Asia with a Capital Adequacy Ratio (CAR) of more than 27%, several times the 8% required by the Bank of International Settlements ( BIS). Through the efforts of its more that 17,500 employeess Bank Mandiri provides comprehensive financial service to more than 6 million corporate and individual customers as well as small and medium sized enterprises in Indonesia.

Established in October 1998, in the aftermath of the Asian financial crisis of 1997 and 1998, Bank Mandiri is a product of a merger of four state-owned banks: Bank Bumi Daya, Bank Dagang Negara, Bank Ekspor Impor and Bank Pembangunan Indonesia. In the depths of the crisis, at Government instigation, sixty-seven banks were closed, merged or acquired by other institutions. To restore bank balance sheets and public confidence, the Government implemented a radical restructuring and recapitalization program, directed by the Indonesian Bank Restructuring Agency (IBRA). Government priorities were to reduce overlap in the banking sector and to create much larger, stronger entities that could serve the needs of a modernizing economy.

Since its establishment, Bank Mandiri has successfully turned around its balance sheet, its profitability and its way of doing business to become the preferred bank in Indonesia. Non-performing loans (NPL's) were reduced from 71,29% at the end of 1999 to 9.5% as of 31 March 2002. NPL's are restructured according to a 19 step restructuring process, the most rigorous process among Indonesia banks. Following the merger, Bank Mandiri closed 194 branches and reduced its workforce from 26,600 to 17,620. Processes have been streamlined and operating expenses have declined. The cost-to-income ratio improved from 33.8% as of 31 March 2001 to 29.3% as of 31 March 2002.

One of Bank Mandiri's greatest achievements has been the complete renovation of its technology platform. Management inherited a total of nine different technology platform. Management inherited a total of ninte different technology platforms for the four legacy banks. After more that 38,000 man-hours of work, an investment of US$ 23 million for new equipment, Bank Mandiri now has a single technology platform creates a unified interface for customers increasing the efficiency of back office processing. The Bank is mid-way through its three-year US$ 200 million program to up-grade its technology platform, which will provide significantly improved products and services to its customers.

The corporate customer base of Bank Mandiri represents the core of the Indonesia economy and the export sector. It includes well-known international names such as Garuda Indonesia, Semen Gresik dan Pertamina. By sector, it is well diversified and is particularly active in the mining, retail, cement, power, oil and gas and aviation sectors. Credit approvals and monitoring are subject to a highly structured "four eyes" approval process, which separates credit decisions from marketing decisions. Bank Mandiri has been making significant progress in growing its small and medium enterprise (SME) customers. As of 31 March 2002, loans to retail customers (including SMEs) reached Rp 9.25 trillion, an increase of 16.8% from same period in 2001.

Bank Mandiri has also made significant progress in the retail segment. Total deposits reached Rp 187.6 trillion as of 31 March 2002, an increase of 5.8% from 31 March 2001. Bank Mandiri's credit card unit signed up more than 100,000 new customers in its first 10 months. The bank currently has a total of 642 branches. The Bank's distribution is further enhanced by its 1.184 ATM's, which is part of an 3,000 plus LINK network (network linking all state banks' ATM's).

From its founding Bank Mandiri has worked to create a strong, professional management team operating under internationally recognized stringent principles of corporate governance, control and compliance. The bank is supervised by a Board of Commissioners appointed by the Ministry of Finance from respected members of the financial community. The highest level of executive management is the Board of Directors, headed by a President Director. The Board of Director includes bankers drawn from the legacy banks as well as independent outside directors. Although Indonesian law requires directors to be Indonesian nationals, Bank Mandiri has recruited a number of non-Indonesia bankers occupying key positions, currently including its Chief Financial Officer. In addition, Bank Mandiri maintains independent Offices of Compliances, Audit and the Company Secretary and is under regular security from external auditors from Bank Indonesia, the Supreme Audit Agency, as well as international auditing firms.

Company Story

Bank Mandiri os Indonesia's largest bank in terms of assets, loans and deposits. Total assets as of March 31, 2002 were Rp 261,9 trillion, or around 24% of the assets in the banking system. With a net profit of Rp 1.17 trillion as of March 31, 2002 (an increase of 270% from same period 2001), Bank Mandiri is the most profitable bank in Indonesia. Bank Mandiri is also one of the best capitalized banks in Asia with a Capital Adequacy Ratio (CAR) of more than 27%, several times the 8% required by the Bank of International Settlements ( BIS). Through the efforts of its more that 17,500 employeess Bank Mandiri provides comprehensive financial service to more than 6 million corporate and individual customers as well as small and medium sized enterprises in Indonesia.

Established in October 1998, in the aftermath of the Asian financial crisis of 1997 and 1998, Bank Mandiri is a product of a merger of four state-owned banks: Bank Bumi Daya, Bank Dagang Negara, Bank Ekspor Impor and Bank Pembangunan Indonesia. In the depths of the crisis, at Government instigation, sixty-seven banks were closed, merged or acquired by other institutions. To restore bank balance sheets and public confidence, the Government implemented a radical restructuring and recapitalization program, directed by the Indonesian Bank Restructuring Agency (IBRA). Government priorities were to reduce overlap in the banking sector and to create much larger, stronger entities that could serve the needs of a modernizing economy.

Since its establishment, Bank Mandiri has successfully turned around its balance sheet, its profitability and its way of doing business to become the preferred bank in Indonesia. Non-performing loans (NPL's) were reduced from 71,29% at the end of 1999 to 9.5% as of 31 March 2002. NPL's are restructured according to a 19 step restructuring process, the most rigorous process among Indonesia banks. Following the merger, Bank Mandiri closed 194 branches and reduced its workforce from 26,600 to 17,620. Processes have been streamlined and operating expenses have declined. The cost-to-income ratio improved from 33.8% as of 31 March 2001 to 29.3% as of 31 March 2002.

One of Bank Mandiri's greatest achievements has been the complete renovation of its technology platform. Management inherited a total of nine different technology platform. Management inherited a total of ninte different technology platforms for the four legacy banks. After more that 38,000 man-hours of work, an investment of US$ 23 million for new equipment, Bank Mandiri now has a single technology platform creates a unified interface for customers increasing the efficiency of back office processing. The Bank is mid-way through its three-year US$ 200 million program to up-grade its technology platform, which will provide significantly improved products and services to its customers.

The corporate customer base of Bank Mandiri represents the core of the Indonesia economy and the export sector. It includes well-known international names such as Garuda Indonesia, Semen Gresik dan Pertamina. By sector, it is well diversified and is particularly active in the mining, retail, cement, power, oil and gas and aviation sectors. Credit approvals and monitoring are subject to a highly structured "four eyes" approval process, which separates credit decisions from marketing decisions. Bank Mandiri has been making significant progress in growing its small and medium enterprise (SME) customers. As of 31 March 2002, loans to retail customers (including SMEs) reached Rp 9.25 trillion, an increase of 16.8% from same period in 2001.

Bank Mandiri has also made significant progress in the retail segment. Total deposits reached Rp 187.6 trillion as of 31 March 2002, an increase of 5.8% from 31 March 2001. Bank Mandiri's credit card unit signed up more than 100,000 new customers in its first 10 months. The bank currently has a total of 642 branches. The Bank's distribution is further enhanced by its 1.184 ATM's, which is part of an 3,000 plus LINK network (network linking all state banks' ATM's).

From its founding Bank Mandiri has worked to create a strong, professional management team operating under internationally recognized stringent principles of corporate governance, control and compliance. The bank is supervised by a Board of Commissioners appointed by the Ministry of Finance from respected members of the financial community. The highest level of executive management is the Board of Directors, headed by a President Director. The Board of Director includes bankers drawn from the legacy banks as well as independent outside directors. Although Indonesian law requires directors to be Indonesian nationals, Bank Mandiri has recruited a number of non-Indonesia bankers occupying key positions, currently including its Chief Financial Officer. In addition, Bank Mandiri maintains independent Offices of Compliances, Audit and the Company Secretary and is under regular security from external auditors from Bank Indonesia, the Supreme Audit Agency, as well as international auditing firms.

Vision and Mission

Our Vision :
The Trusted and Preferred Bank

Our Mission :

  • To be market oriented
  • To enhance professionalism
  • To maximize returns to stakeholders
  • To have an open management approach
  • To demonstrate concern for the community and the environment
Address of Bank Mandiri Head Office

PT BANK MANDIRI (PERSERO) Tbk.
Jl, Jenderal Gatot Subroto Kav. 36-38
Jakarta 12190 – Indonesia
Telp: 14000, +62-21-52997777
Fax: +62-21-52997735

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