RATING - Bank Mandiri Tbk.

PEFINDO affirmed the rating of “_idAAA” to PT Bank Mandiri (Persero) Tbk, (BMRI or the Bank) and “_idAA+” to its IDR3.5 trillion subordinated bond.  The outlook for these ratings is “stable.”  The ratings reflect strong support from the Government of Indonesia, the Bank’s superior market position, and improving asset quality performance.  However, the ratings are constrained by BMRI’s Net Interest Margin (NIM) which is slightly below average.



Incorporated in 1998, BMRI provides an extensive range of products and services in commercial banking, international banking, sharia banking, investment banking, insurance, and consumer financing, with the support of its principal subsidiaries including Mandiri Sekuritas, Bank Syariah Mandiri, Bank Mandiri (Europe) Limited, AXA Mandiri Financial Services, Bank Sinar Harapan Bali, and Mandiri Tunas Finance.  As of June 2010, BMRI’s large network comprised of 1,180 offices, 7 overseas branches / representative offices, and 5,224 self-owned ATMs which are connected to joint ATM linkage of 14,359 units throughout Indonesia.  Furthermore, the Bank also has 35,961 Electronic Data Capture (EDC) network, as well as other electronic channels including Internet Banking, SMS Banking, and Call Center 14000.  BMRI employs 22,252 staffs with customer base of 10.5 million deposit owners and 2.7 million loan account holders.

Source : http://new.pefindo.com/r_releasedetail.php?cid=751 - Oct 18, 2010