Jakarta (ANTARA News) - State-owned Bank Mandiri is planning to acquire a multi-finance company or bank with assets reaching a certain minimum amount, the bank`s chief said.
"In our revised business plan, we will include a plan to acquire a multi-finance company or bank whose assets reach a certain minimum level," Bank Mandiri President Director Agus D.W. Martowardojo told newsmen after attending a state entterprises coordinating meeting which was also attended by State Enterprises Minister Sugiharto here Thursday.
He said with Bank Mandiri`s non-performing loan (NPL) ratio having dropped to below 5 percent in the first semester of 2007, its growth was expected to reach 10 percent in July. Because of these prospects, the bank`s business plan would be revised so as to accelerat its corporate growth.
The bank`s NPL ratio now stood at 4.7 percent so it was ready to develop its business by conducting a merger or acquire another financial entity, he said.
"Bank Mandiri has 5 business strategies and is striving to gain a share of 20 precent to 30 percent in the revenue pool in the respective market segments," he added.
But Agus declined to give more details on his bank`s plan to acquire a multi-finance company or bank, saying only "let us just wait."
Meanwhile, State Enterprises Minister Sugiharto said Bank Mandiri was able to lower its NPL rate from 16.17 percent or Rp16.2 trillion in 2005 to 6.06 percent or Rp6.6 trillion in 2006.
In 2006, Bank Mandiri won "The Best Overall for Corporate Governance Award" and "The Best Disclosure and Transparency" title from "Asia Money".(*)