PT Bank Mandiri (Persero) Tbk or Bank Mandiri, headquartered in

Jakarta Jakarta (; , bew, Jakarte), officially the Special Capital Region of Jakarta ( id, Daerah Khusus Ibukota Jakarta) is the capital and largest city of Indonesia. Lying on the northwest coast of Java, the world's most populous island, Jakarta ...

, is the largest bank in

Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...

in terms of assets, loans and deposits. Total assets as of March 2021, were IDR 1.58 quadrillion (around US$110.56 billion). As of March 2021, Bank Mandiri was the largest bank in Indonesia by total assets. As of December 2020, the bank had 2,511 branches spread across three different time zones in Indonesia and 7 branches abroad, about 13,217

Automatic Teller Machine An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, fun ...

s (ATMs), and five principal subsidiaries: Mandiri Sekuritas, Mandiri Tunas Finance, AXA Mandiri Financial Services, Bank Mandiri Taspen, and Mandiri AXA General Insurance.

History

Pre-merger

Bank Mandiri is the result of the merger made by Indonesian government from four older government-owned banks that failed in 1998. Those four banks were Bank Bumi Daya, Bank Dagang Negara, Bank Ekspor Impor Indonesia, and Bank Pembangunan Indonesia. During the amalgamation and reorganisation, the government reduced the number of branches by 194 and the number of personnel from 26,600 to 17,620. Bank Bumi Daya and Bank Ekspor Impor Indonesia was previously merged in 1965 by the Indonesian government under Guided Democracy into Bank Negara Indonesia (BNI) umbrella, 1968: The Indonesian government then reorganized the banks in 1968 as the New Order government took place. * Bank Bumi Daya (BBD) started in 1959, when the government nationalized

Nationale Handelsbank The Nederlandsch-Indische Handelsbank (NIHB, ) was a Dutch bank established in 1863 to finance trade between the Netherlands and the Dutch East Indies. During most of the colonial period, it was the second-largest of the “big three” commercia ...

's operations in Indonesia as a part of boycott on Dutch companies amid both nation's dispute over Western New Guinea, and from them the government created Bank Umum Negara ("State General Bank"). In 1964, the government nationalized

Chartered Bank The Chartered Bank of India, Australia and China (informally The Chartered Bank) was a bank incorporated in London in 1853 by Scotsman James Wilson, under a Royal Charter from Queen Victoria.

's operations in Indonesia and merged them into Bank Umum Negara; the British overseas bank had first entered Indonesia in 1863 when it opened an agency in Batavia (now Jakarta). In 1965 the government brought Bank Umum Negara into BNI, renaming it Bank Negara Indonesia Unit IV (BNI IV), but in 1968 BNI IV became an independent bank again with the name Bank Bumi Daya. * Bank Ekspor Impor Indonesia (BankExim, "Export Import Bank of Indonesia") was created in 1960 as the Indonesian government nationalized the Indonesian operations of

Nederlandsche Handel-Maatschappij The Netherlands Trading Society ( nl, Nederlandsche Handel-Maatschappij or NHM) was a Dutch trading and financial company, established in 1824 in The Hague by King William I to promote and develop trade, shipping and agriculture. For the next 140 ...

. The bank then merged into BNI by the government in 1965 and became Bank Negara Indonesia Unit II (BNI II). In 1968, the government split BNI II into two parts, with the BNI Unit II Export-Import Division becoming BankExim, which specialised in trade finance. * Bank Dagang Negara (BDN, "State Trading Bank") was established in 1960 from the nationalization of

Escomptobank The Nederlandsch-Indische Escompto Maatschappij (NIEM, ) was a significant Dutch bank, founded in 1857 in Batavia, Dutch East Indies. In the first half of the 20th century, it was the smallest of the “big three” commercial banks, behind the ...

. Escomptobank NV, previously Nederlandsch Indische Escompto Maatschappij until 1949, was established in Batavia in 1857. * Bank Pembangunan Indonesia (Bapindo, "Development Bank of Indonesia") had its root from Bank Industri Negara (BIN, "State Industrial Bank"), which was established in 1951. The bank was aimed to finance priority sectors, such as plantations, industry and mining. In 1960, the Indonesian government established Bapindo and merged BIN into it. Bapindo specialised in medium and long-term financing of manufacturing, tourism and transportation. In 1986, Bapindo expanded into general commercial banking.

Merger and later history

In 1998, the government merged BBD, BDN, BankExim and Bapindo to create Bank Mandiri to restructurize some state-owned banks to manage impacts of financial crisis at the time. Bank Mandiri was established on 2 October 1998, and the merged banks operated effectively as a single bank starting on 31 July 1999. The name ''Mandiri'' (

Indonesian Indonesian is anything of, from, or related to Indonesia, an archipelagic country in Southeast Asia. It may refer to: * Indonesians, citizens of Indonesia ** Native Indonesians, diverse groups of local inhabitants of the archipelago ** Indonesian ...

for "self-reliant" or "independent") was coined by President

B. J. Habibie Bacharuddin Jusuf Habibie (; 25 June 1936 – 11 September 2019) was an Indonesian engineer and politician who was the third president of Indonesia from 1998 to 1999. Less than three months after his inauguration as the seventh vice preside ...

during his presidency, with the hope that the bank could become a self-reliant bank and encourage the people, especially who need microfinancing, to also become self-reliant. In 2004, the bank opened a branch in

Dili Dili (Portuguese/Tetum: ''Díli'') is the capital, largest city of East Timor and the second largest city in Timor islands after Kupang (Indonesia). It lies on the northern coast of the island of Timor, in a small area of flat land hemmed in ...

East Timor East Timor (), also known as Timor-Leste (), officially the Democratic Republic of Timor-Leste, is an island country in Southeast Asia. It comprises the eastern half of the island of Timor, the exclave of Oecusse on the island's north-weste ...

and a representative office in

Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flow ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

Board of directors

*President Director : Darmawan Junaidi *Vice-president Director : Alexandra Askandar *Director Manajemen Risiko : Ahmad Siddik Badruddin *Director Kepatuhan dan SDM : Agus Dwi Handaya *Director Treasury & International Banking: Panji Irawan *Director Commercial Banking : Riduan *Director Jaringan & Retail Banking : Aquarius Radianto *Director Operation : Toni E.B. Subari *Director Corporate Banking : Susana Indah Kris Indriati *Director Hubungan Kelembagaan : Rohan Hafas *Director Keuangan dan Strategi : Sigit Prastowo *Director Information Technology : Timothy Utama

Products

Consumer banking

# Mandiri Savings: #* Mandiri Bank Account, Saving Account #* Mandiri Business Saving #* Mandiri Plan Saving #* Mandiri

Hajj The Hajj (; ar, حَجّ '; sometimes also spelled Hadj, Hadji or Haj in English) is an annual Islamic pilgrimage to Mecca, Saudi Arabia, the holiest city for Muslims. Hajj is a mandatory religious duty for Muslims that must be carried ...

Saving #* Mandiri Foreign Currency Saving # Mandiri

Current account Current account or Current Account may refer to: * Current account (balance of payments), a country's balance of trade, net of factor income and cash transfers * Current account (banking) A transaction account, also called a checking account, ch ...

#* Mandiri Current Account # Mandiri Deposit #* Mandiri Deposit #* Mandiri Foreign Currency Deposit # Mandiri

Debit Debits and credits in double-entry bookkeeping are entries made in account ledgers to record changes in value resulting from business transactions. A debit entry in an account represents a transfer of value ''to'' that account, and a credit en ...

#* Mandiri Debit # Mandiri Prepaid #* GazCard #* Indomaret Card #* E-toll Card # Mandiri

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

#* Mandiri

Visa Visa most commonly refers to: *Visa Inc., a US multinational financial and payment cards company ** Visa Debit card issued by the above company ** Visa Electron, a debit card ** Visa Plus, an interbank network *Travel visa, a document that allows ...

#* Mandiri Mastercard #* Mandiri JCB # Mandiri

consumer loan Credit (from Latin verb ''credit'', meaning "one believes") is the Trust (social sciences), trust which allows one Party (law), party to provide money or resources to another party wherein the second party does not reimburse the first party im ...

#* Mandiri KPR #* Mandiri KPR Multiguna #* Mandiri

personal loan Personal may refer to: Aspects of persons' respective individualities * Privacy * Personality * Personal, personal advertisement, variety of classified advertisement used to find romance or friendship Companies * Personal, Inc., a Washington, ...

#* Mandiri Mitrakarya #* Mandiri Tunas KPM # Mandiri Priority Services #* Mandiri Priority Services #*

Merchant A merchant is a person who trades in commodities produced by other people, especially one who trades with foreign countries. Historically, a merchant is anyone who is involved in business or trade. Merchants have operated for as long as indust ...

Relations Program # Investment Products #*

Mutual fund A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV i ...

s #* ORI & Sukuk Ritel #

Bancassurance Bancassurance is a relationship between a bank and an insurance company that is aimed at offering insurance products or insurance benefits to the bank's customers. In this partnership, bank staff and tellers become the point of sale and point o ...

#* Mandiri Investasi Sejahtera #* Mandiri Jiwa Sejahtera #* Mandiri Rencana Sejahtera # Retail

Brokerage A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be con ...

Service #* Retail Brokerage # Consumer Banking Treasury (CBT) #* Consumer Banking

Treasury A treasury is either *A government department related to finance and taxation, a finance ministry. *A place or location where treasure, such as currency or precious items are kept. These can be state or royal property, church treasure or i ...

Subsidiaries

International

* Bank Mandiri Singapore Branch, operate under wholesale bank licence granted by

Monetary Authority of Singapore The Monetary Authority of Singapore (MAS) is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well ...

* Bank Mandiri Hong Kong Branch * Bank Mandiri Cayman Islands Branch * Bank Mandiri Dili Branch * Bank Mandiri Shanghai Branch * Bank Mandiri (Europe) Limited, located in London, UK. Subsidiary of PT Bank Mandiri (Persero) Tbk.

Principal

* 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) * AXA Mandiri Financial Services * Bank Sinar Harapan Bali (BSHB) (now Bank Mandiri Taspen or Bank Mantap) * Mandiri Tunas Finance * Mandiri Utama Finance * Mandiri AXA General Insurance * Asuransi Jiwa InHealth Indonesia (now Mandiri InHealth)

Awards

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.

Slogans

* 1998–2005: Bank Terpercaya Pilihan Anda (The Trust and Preferred Bank) * 2003–2005: Satu Hati, Satu Negeri, Satu Bank (One Heart, One Country, One Bank) * 2005–2008: Melayani Dengan Hati, Menuju yang Terbaik (Serve With Heart, Towards the Best) * 2008–present: Terdepan, Terpercaya, Tumbuh Bersama Anda (Leading, Trust, Enabling Growth) * 2009–2010: Menembus Batas Keinginan (Breaking the Limits of Desire) * 2010–2012: Menjawab Setiap Keinginan (Answering Every Wish) * 2012–2018: Apapun Keinginan Anda, Mandiri Saja (Whatever You Want, Choose Mandiri) * 2018–present: Saatnya Mandiri (Time For Mandiri)