Mandiri named 'best local bank'

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