Bank Mega launches new logo

JP/alx

JAKARTA (JP): Bank Mega launched yesterday a new identity, corporate logo and repackaged service products in a vigorous bid to become one of the ten largest banks in Indonesia.

The 28-year-old bank underwent massive reform in April 1996 when it was bought by the Para Group and given Rp 50 billion (US$20.5 million) in additional equity capital.

"We succeeded in consolidating the bank and improving its management with assistance from the central bank (Bank Indonesia) in just one year," Chairul Tanjung, Bank Mega's chief commissioner and the Para Group's chairman said yesterday.

The picture shows Minister of Finance Mar'ie Muhammad trying the bank's ATM during the grand launch last night in the presence of Tanjung (left); Rudini, one of the commissioners; and Cacuk Sudarijanto (right), the bank's president.

The bank's bottom line turned from a deficit in 1995 into a Rp 5.6 billion profit last year and its assets increased from Rp 172 billion to Rp 304 billion as of March, Chairul said.

Cacuk Sudarijanto, a former president of state-owned PT Telekomunikasi Indonesia, became the bank's president early this year. He said Bank Mega's income rose 41.52 percent to Rp 11.5 billion in the first quarter this year.

"We have been rated a sound bank by Bank Indonesia and are now in a strong position to further expand our service networks from 15 at present," Cacuk said.

The 1997 bank rating by Infobank monthly magazine also rates Bank Mega a very sound bank.

The bank also launched yesterday its automatic teller machine network which is linked to the ALTO system. (vin)