www.pefindo.com - PEFINDO assigned its “idAA+” rating to PT Bank Syariah Mandiri (BSRM or the Bank) with a ‘stable’ outlook. The rating reflects very strong support from PT Bank Mandiri (Persero) Tbk (Bank Mandiri or BMRI, rated idAAA/Stable), very strong position in sharia banking segment, and improving asset quality indicators. However, the rating is constrained by the Bank’s moderate capitalization and weakening profitability measures. (source)
BSRM transformed into a sharia bank and started its sharia banking business in 1999. Currently, BMRI holds more than 99.9% of the Bank’s shares, while the other shareholder is PT Mandiri Sekuritas, which is also a subsidiary of BMRI.
Rating Period: May 21, 2012 – May 1, 2013
Contact Analyst: Hendro Utomo & Hotma Parulian Manalu
Source: http://new.pefindo.com/r_releasedetail.php?cid=1088 - June 22, 2012
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