Company: Bank Mandiri Persero Tbk PT Brand value: US$4,940 million Year on year change: -20% Headquarter city: Jakarta Industry: Banks Year formed: 1998
Bank Mandiri was formed during the post-crash restructuring of the banking industry in the late 1990s, and has become one of Indonesia’s leading financial institutions. It has a focus on commercial banking and small and medium enterprises, and on fostering a cashless society. In Q1 2016 alone, Mandiri has handled more than IDR 1 trillion in e-commerce transactions – more than double the value of a year earlier.
Under the leadership of CEO Kartika Wirjoatmodjo, at age 43 the youngest head of a major Indonesian bank, Mandiri has been expanding its mortgage business and has launched new card products for opposite ends of the consumer market – the Visa Signature premium credit card, and the Kartu Tani, or farmer’s debit card, for accessing subsidies. In the past year, operating income rose due to increased income from interest, while fees from credit cards declined.
Mandiri encourages young entrepreneurs and in the past year has been working with Microsoft to identify 100 ‘technopreneurs’ who will receive starter capital for their businesses. Bank Mandiri listed on the Indonesia Stock Exchange in 2003 and has international operations in Malaysia, Singapore, Hong Kong, the Cayman Islands, Timor-Leste, Shanghai and London.