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January 16, 2008 |
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BANK MANDIRI: Plans for 20% Outstanding Loan Growth This Year PT Bank Mandiri Tbk plans to boost its outstanding loans by at least 20% in 2008 and is setting aside IDR1 trillion for acquisitions, Reuters reports citing Bank Director Omar Anwar. Mr. Anwar was quoted by the news agency as saying, "We will acquire a number of multi-finance companies. We have the candidates and we are aiming to make it happen in 2008. We have set aside IDR1 trillion for it." Harry Suhartono of Reuters writes that Bank Mandiri's outstanding loans between January and September grew 11.9 % from a year earlier, less than its main rivals, whose loans grew around 20%. Moreover, Mr. Anwar said Bank Mandiri will hold a roadshow for its planned US$300 million bond issue by the end of January or early February in Singapore, Hong Kong and London, the report adds. About Bank Mandiri PT Bank Mandiri -- http://www.bankmandiri.co.id/ -- is Indonesia's largest and best capitalized bank in terms of assets, loans and deposits, and provides comprehensive financial services to more than six million corporate and individual consumers, as well as small and medium-sized enterprises in Indonesia. The Troubled Company Reporter-Asia Pacific reported on Dec. 7, 2007, that Fitch Ratings upgraded the Individual Rating of PT Bank Mandiri (Persero) Tbk (Mandiri) to 'C/D' from 'D', and its National Long-term rating to 'AA+ (idn)' from 'AA (idn)'. The Outlook on the National rating remains Stable. At the same time, all other ratings are affirmed, as follows: -- Long-term foreign and local currency Issuer Default ratings at 'BB-' with a Positive Outlook -- Short-term IDR at 'B' -- Support at '4', and -- Support Floor at 'B+' On Oct. 19, 2007, Moody's Investors Service raised the foreign currency long-term debt and foreign currency long-term deposit ratings of Bank Mandiri. -- The foreign currency senior/subordinated debt ratings were raised to Ba2/Ba2 from Ba3/Ba3 and foreign currency long- term deposit rating to B1 from B2. -- The Not Prime foreign currency short-term deposit rating, Baa2 global local currency deposit rating and D- BFSR were unaffected. Indonesia's Mandiri aims for 20 pct 08 loan growth |
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