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

Jakarta Jakarta (; , Betawi language, Betawi: ''Jakartè''), officially the Special Capital Region of Jakarta (; ''DKI Jakarta'') and formerly known as Batavia, Dutch East Indies, Batavia until 1949, is the capital and largest city of Indonesia and ...

, is the largest bank in

Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania, between the Indian Ocean, Indian and Pacific Ocean, Pacific oceans. Comprising over List of islands of Indonesia, 17,000 islands, including Sumatra, ...

in terms of assets, loans and deposits. Total assets as of 2022, were 1.992 Trillion rupiah (around US$133 Billion). As of 2022, Bank Mandiri is the largest bank in Indonesia by total assets. As of December 2022, the bank had 2,364 branches spread across three different time zones in Indonesia and 7 branches abroad, about 13,027

automatic teller machine An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account ...

s (ATMs), and 11 subsidiaries, such as: 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 Bank Negara Indonesia ( 'State Bank of Indonesia', formerly Bank Negara Indonesia 1946, 'State Bank of Indonesia 1946') is an Indonesian state-owned bank. It has branches primarily in Indonesia, but it can also found in Seoul, Singapore, Hong Ko ...

(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” comm ...

'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, during Konfrontasi, the government nationalized Chartered Bank'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 ( 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 years the NHM developed a large int ...

. 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 ...

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

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

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 language, Portuguese and Tetum language, Tetum: ''Díli'') is the Capital city, capital and largest city of Timor-Leste. It lies on the northern coast of the island of Timor, in a small area of flat land hemmed in by mountai ...

East Timor Timor-Leste, also known as East Timor, officially the Democratic Republic of Timor-Leste, is a country in Southeast Asia. It comprises the eastern half of the island of Timor, the coastal exclave of Oecusse in the island's northwest, and ...

and a representative office in

Shanghai Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

Products

Consumer banking

# Mandiri Savings: #* Mandiri Saving account #* Mandiri Business Saving #* Mandiri Plan Saving #* Mandiri

Hajj Hajj (; ; also spelled Hadj, Haj or Haji) is an annual Islamic pilgrimage to Mecca, Saudi Arabia, the holiest city for Muslims. Hajj is a mandatory religious duty for capable Muslims that must be carried out at least once in their lifetim ...

Saving #* Mandiri Foreign Currency Saving # Mandiri Current account #* Mandiri Current Account # Mandiri DepositMandiri 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 cred ...

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

Visa Visa most commonly refers to: * Travel visa, a document that allows entry to a foreign country * Visa Inc., a US multinational financial and payment cards company ** Visa Debit card issued by the above company ** Visa Electron, a debit card ** Vi ...

#* Mandiri Mastercard #* Mandiri JCB # Mandiri consumer loan #* Mandiri KPR #* Mandiri KPR Multiguna #* Mandiri

personal loan In finance, unsecured debt refers to any type of debt or general obligation that is not protected by a guarantor, or collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the te ...

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

Merchant A merchant is a person who trades in goods produced by other people, especially one who trades with foreign countries. Merchants have been known for as long as humans have engaged in trade and commerce. Merchants and merchant networks operated i ...

Relations Program # Investment Products #*

Mutual fund A mutual fund is an investment fund that pools money from many investors to purchase Security (finance), securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in ...

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 entity that arranges transactions between a buyer and a seller. This may be done 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. Neith ...

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; in a business context, corporate treasury. *A place or location where treasure, such as currency or precious items are kept. These can be ...

Subsidiaries

International

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

Monetary Authority of Singapore The Monetary Authority of Singapore or (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 ...

* 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 Mystery shopping is a process by which a company measures its own quality of sales and service, job performance or regulatory compliance by having a researcher pose as a customer and report their experience. Mystery shoppers typically mirror ...

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.