Bank Mandiri

Bank Mandiri
PT Bank Mandiri (Persero) Tbk.
Type Public (IDXBMRI)
Industry Financial Services, Banking
Founded Jakarta, Indonesia
Founder(s) Indonesian Government (1998)
Headquarters Jakarta, Indonesia
Key people Zulkifli Zaini, CEO
Net income increase Rp 9.2 trillion (2010) (appr. US$1 billion)[1]

Bank Mandiri (or Standalone Bank in English) IDXBMRI, headquartered in Jakarta,[2] is the largest bank in Indonesia in term of assets, loans and deposits. Total assets as of Q2 2010 were IDR 402.1 trillion (or USD 46.4 billion). It also has Capital Adequacy Ratio (CAR) of 23% (including market risk), Return on Asset (RoA) of 0.71 %, and Return on Equity (RoE) of 7.38 %.

In May 2005, the bank announced that as a result of new, tighter accounting regulations, its reported nonperforming loans would increase. The resulting increase was a very large one, from 7% non-performance to 25%.

By December 2010, the bank had 1380 branches spread across three different time zones in the Indonesian archipelago and six branches abroad, about 5224 Automatic Teller Machines (ATMs), and five principal subsidiaries: Bank Syariah Mandiri, Mandiri Sekuritas, Mandiri Tunas Finance, AXA Mandiri, and Bank Sinar Harapan Bali.



Museum Mandiri, the former building of Nederlandsche Handel-Maatschappij that was nationalized after the independence period.

The Indonesian government created it in 1999 to amalgamate four older government-owned banks that had failed in 1998. Those banks were Bank Bumi Daya (BBD), Bank Dagang Negara (BDN), Bank Expor Impor (Exim), and Bank Pembangunan Indonesia (Bapindo). During the amalgamation and reorganization, the government reduced the number of branches by 194 and the number of personnel from 26,600 to 17,620.

  • 1951: Bank Industri Negara (BIN) was established to finance priority sectors, such as plantations, industry and mining.
  • 1959: The Indonesia government nationalized Nationale Handelsbank’s operations in Indonesia and from them created Bank Umum Negara.
  • 1960: The Indonesia government nationalized the Indonesian operations of two more Dutch banks. It used Nederlandsche Handel-Maatschappij’s operations to create Bank Ekspor Impor Indonesia. Escomptobank became Bank Dagang Negara. The government also established the state-owned Bank Pembangunan Indonesia (Bapindo) and merged BIN into it. Bapindo specialized in medium and long-term financing of manufacturing, tourism and transportation.
  • 1964: The Indonesia government nationalized Chartered Bank’s operations in Indonesia and merged them into Bank Umum Negara. Chartered Bank, a British overseas bank, had first entered Indonesia in 1863 when it opened an agency in Batavia.
  • 1965: The Indonesia government brought Bank Umum Negara into the Bank Negara Indonesia group, renaming it Bank Negara Indonesia Unit IV (BNI IV). Similarly, Bank Ekspor Impor Indonesia became Bank Negara Indonesia Unit II (BNI II).
  • 1968: The Indonesian government again reorganized some banks. BNI IV became an independent bank with the name Bank Bumi Daya. The government split BNI II into two parts, with the BNI Unit II Export-Import Division becoming BankExim, which specialized in trade finance.
  • 1986: Bapindo expanded into general commercial banking.
  • 1999: The government merged Bank Bumi Daya, Bank Dagang Negara, BankExim, and Bapindo to create Bank Mandiri.[3]
  • 2004: The bank opened a branch in Dili (East Timor), and a representative office in Shanghai (China).

Corporate Value

As part of Bank Mandiri culture program, Bank Mandiri established their culture value known as TIPCE that stands for:

  1. Trust
  2. Integrity
  3. Professionalism
  4. Customer Value
  5. Excellence

Board of directors

  • President Director : Zulkifli Zaini
  • Vice President Director : Riswinandi
  • Director of Institutional Banking  : Abdul Rachman
  • Director of Risk Management  : Sentot A. Sentausa
  • Director of Treasury, FI & Special Asset Mgmt  : Royke Tumilaar
  • Director of Micro & Retail Banking  : Budi Gunadi Sadikin
  • Director of Compliance & HC  : Ogi Prastomiyono
  • Director of Finance & Strategy  : Pahala N. Mansury
  • Director of Commercial & Business Banking  : Sunarso
  • Director of Corporate Banking  : Fransisca N. Mok
  • Director of Technology & Operations : Kresno Sediarsi


Consumer Banking

  1. Mandiri Savings:
    • Mandiri Saving Account
    • Mandiri Business Saving
    • Mandiri Plan Saving
    • Mandiri Hajj Saving
    • Mandiri Foreign Currency Saving
  2. Mandiri Current Account
    • Mandiri Current Account
  3. Mandiri Deposit
    • Mandiri Deposit
    • Mandiri Foreign Currency Deposit
  4. Mandiri Debit
    • Mandiri Debit
  5. Mandiri Prepaid
    • GazCard
    • Indomaret Card
    • E-toll Card
  6. Mandiri Credit Card
  7. Mandiri Consumer Loan
    • Mandiri KPR
    • Mandiri KPR Multiguna
    • Mandiri Personal Loan
    • Mandiri Mitrakarya
    • Mandiri Tunas KPM
  8. Mandiri Priority Services
    • Mandiri Priority Services
    • Merchant Relations Program
  9. Investment Products
  10. Bancassurance
    • AXA Mandiri Financial Services
    • Mandiri Investasi Sejahtera
    • Mandiri Jiwa Sejahtera
    • Mandiri Rencana Sejahtera
  11. Retail Brokerage Service
    • Retail Brokerage
  12. Consumer Banking Treasury (CBT)

International Subsidiaries

Principal Subsidiaries

  • Bank Syariah Mandiri
  • Mandiri Sekuritas, at Capital Market Awards 2011, PT Mandiri Sekuritas got 3 awards from 9 awards (Marketing Net, the Best Bond Emiten, and the Best Stock Exchange member)[11]
  • Mandiri Tunas Finance
  • AXA Mandiri
  • Bank Sinar Harapan Bali


Based on mystery shopper method done by surveyor, in 2011 Bank Mandiri got average value 91.23 percent, a first time for a bank got more than 90 percent over 15 years survey. Bank Mandiri got Service Excellence Award for 4 times consecutives and got The Most Consistent Bank for 2 times.[12]


External links

Portal icon Indonesia portal
Portal icon Companies portal

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