Bank Mandiri Persero Tbk PT : Joins Forces with Askrindo to Boost Quality of Collateral-Free Loans

About this update from Pt Bank Mandiri (persero) Tbk

Home » Corporate News News Release - Senin, 13 Maret, 2017 Jakarta, 13 March 2016 - Bank Mandiri has teamed up with Perum Asuransi Kredit Indonesia (Askrindo) to insure the company's collateral-free loan (KTA) portfolio in order to help achieve healthy and quality growth. The collaboration agreement was signed by Bank Mandiri Director of Retail Banking, Tardi, and PT Askrindo CEO, Budi Tjahjono, at Plaza Mandiri in Jakarta on Monday (March 13). Under the collaboration, Askrindo will provide consumer credit insurance for Bank Mandiri's KTA against risks that could result in borrowers being unable to fulfill their obligations to the Bank. Bank Mandiri's KTA portfolio as of the end of last year amounted to Rp 17.4 trillion, up 23% over the previous year, with the NPL ratio standing at 0.77%. Tardi said that this strategic synergy between two state enterprises in the financial services sector would create optimum added value for each entity. 'This collaboration is very supportive of the Bank's business strategy of focusing on the consumer business this year, including the KTA business,' said Tardi. As part of the arrangement, Tardi explained, the Bank will offer prospective KTA borrowers a range of insurance products provided by the Bank's approved insurers, including Askrindo. Borrowers are free to choose whichever insurance product best suits their needs. 'We hope that this will also support the achievement of Bank Mandiri's KTA growth target, which is in the range of 20% for the end of the year,' said Tardi. About PT Bank Mandiri (Persero) Tbk Bank Mandiri is the largest Bank in Indonesia, providing services in the Corporate, Commercial, Micro & Business, Consumer Banking and Treasury segments. The Bank's subsidiaries are Mandiri Sekuritas (capital market services), Bank Syariah Mandiri (shariah banking), Bank Mandiri Taspen Pos/ Mantap (MSME sector), AXA-Mandiri Financial Services (life insurance), Mandiri InHealth (health insurance), Mandiri Axa General Insurance (general insurance), Mandiri Tunas Finance (consumer finance), Mandiri Utama Finance (financing services), Mandiri International Remittance (remittance services), Mandiri Europe (treasury & financial institutions), and Mandiri Capital Indonesia (venture capital). As of the end of December 2016, Bank Mandiri operated 2,599 branches throughout Indonesia, and 7 branches/representative offices/subsidiaries overseas. The Bank's distribution network consisted of 17,461 ATMs connected to the ATM Link, ATM Bersama, ATM Prima and Visa/Plus networks. In addition, the Bank operated more than 236 thousand Electronic Data Capture machines and a range of other electronic channels, including Internet Banking, Mandiri Mobile, SMS Banking and Call Center 14.000. For more information, please contact: Rohan Hafas Corporate Secretary PT Bank Mandiri (Persero) Tbk. Tel: 021-5245740 Fax 021-5268246 [email protected]

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