Mandiri named 'best local bank'

JAKARTA: State-owned Bank Mandiri has been named the best local bank in Indonesia this year by Hong Kong-based financial magazine FinanceAsia.

"Bank Mandiri is Indonesia's largest bank by a solid margin. Its total assets are Rp 262 trillion (US$26.5 billion) and its net profit $119 million. It return on equity is 38.09 percent," the magazine said.

The magazine also praised last year's "highly successful" issuance of $125 Eurobonds by the bank, which marked the first international capital market transactions by an Indonesian state- owned entity since the economic crisis. -- JP