Japan to grant licence to Mandiri

Japan to grant licence to Mandiri

TOKYO (DPA): Japan's Financial Reconstrucion Commission decided Thursday to give a banking licence to PT Mandiri (Persero) of Indonesia to open a branch office in Tokyo, commission officials said.

The bank, one of Indonesia's largest with total assets of more than Rp 200 trillion (about US$30.31 billion), is scheduled to begin operating in Tokyo on July 31, according to the officials.

PT Mandiri, established in October last year, took over four state-owned banks in Indonesia earlier this month.