Universal Banking In 2004, Bank Mandiri achieved its goal of becoming a Additional Divestment Following the success of our Initial Public Offering IPO on Distribution Network Expansion As part of the drive to increase coverage area and market
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Message from the President
Dear Shareholders, I would like to take this opportunity to elaborate upon
our vision of Bank Mandiri - to be a Regional Champion Bank, in accordance with Bank Indonesia’s long-term
plan for the Indonesian Banking Architecture. In order to achieve this, Bank Mandiri has planned for three stages of
transformation: Phase I 2000-2004 to become a Universal Bank; Phase II 2005-2009 to become a Dominant Domestic
Bank; and Phase III 2010 onwards to become a Regional Champion Bank. This past year marked the completion of
the first phase of Bank Mandiri’s journey of transformation, which established the foundations for future growth and
development. By the end of Phase II 2009, we have targeted an increase in the value of the company to achieve a market
capitalization of Rp100 trillion.
I would now like to highlight several major milestones achieved during the recent post-merger and consolidation
phases of Bank Mandiri.
• In 2000 we consolidated and rationalized our branch
network and staffing, established Good Corporate Governance and Risk Management procedures, and
implemented a hub spoke IT system. •
In 2001 we completed the integration of MASTER Mandiri Integrated System, reorganized our business units,
developed our corporate plan, launched our Visa credit card and Mandiri Prioritas products, introduced the “3
No’s” policy, and issued a US125 million FRN that signaled Indonesia’s return to international capital markets following
the economic crisis.
• In 2002 we aligned job grading across the organization,
launched the Officer Development Project ODP, established our Call Center SMS Banking, opened
Commercial Banking Centers CBCs, introduced Credit Scoring Rating Systems, and issued US125 million in
subordinated debt.
• In 2003, we implemented eMAS Enterprise Mandiri
Advanced System, launched internet banking, adopted a Balanced Scorecard, conducted a quasi reorganization,
issued a US300 million MTN, and launched our Initial Public Offering IPO.
Let me now describe several more recent achievements that are central to the on-going development and future growth of
Bank Mandiri: