Indonesia's Mandiri to open branches in Vietnam, Myanmar, Thailand

Bank Mandiri may open branches in three neighboring countries as part of its plan to become a top lender in Southeast Asia.

This was announced by Riswinandi, the lender’s vice president director.

The Jakarta-based lender hopes to catch up with regional rivals such as Singapore’s DBS Group Holdings and Overseas Chinese Banking Corporationin terms of market capitalization.

The bank has total assets of Rp 547 trillion or $58 billion.

Riswinandi said the lender was working with regulators in the countries where it aimed to open branches.

“No need to rush,” he said. “We have to make sure all regulations are met.”

Bank Mandiri has set an ambitious target to become one of the region’s top five banks by 2013 and one of the top three banks by 2020.

Riswinandi did not disclose Bank Mandiri’s full plan to extend its reach in the region.

For more.

Also Read

Krungthai Bank temporarily closes 4 branches due to floods

Bank Negara Malaysia releases policy document on claims settlement practices

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit