Jakarta, 16 September 2015 - Bank Mandiri and Bank Syariah Mandiri (BSM) have introduced a new Student Savings scheme (abbreviated in Bahasa as SIMPEL) to encourage a culture of saving among students from early on. The scheme was launched by Chief Executive of the OJK's Banking Supervision, Nelson Tampubolon, OJK Commissioner for Consumer Education and Protection Kusumanungtuti S. Soetiono, Bank Mandiri Deputy CEO Sulaiman A. Ariyanto and BSM CEO Agus Sudiarto, at the Basketball Hall in Senayan, Jakarta, on Wednesday (Sept 16).
Bank Mandiri Deputy CEO Sulaiman A. Ariyanto said that the scheme was aimed at students from the early childhood up to high school and Islamic boarding school (Pesantren) levels. Currently, he said, Bank Mandiri is working together with 63 schools to support the development of the scheme.
"It is very important that the culture of saving be introduced from early on. The goal is that students learn to be wise and to control their spending impulses," said Sulaiman.
Statistics show that students from elementary up to high school level account for 20% of the total population of Indonesia. This fact clearly presents a major opportunity to improve financial inclusion.
Mandiri SIMPEL is specifically designed to encourage students' interest in saving as its product characteristics are specifically adapted to their needs.
Sulaiman said that only a small initial deposit was required to open a SIMPEL account and there were no monthly administration fee. As an initial step, the bank would roll out SIMPEL in Jakarta, Depok, Tangerang and Bekasi. It would then be gradually expanded to other parts of Indonesia.
He said that SIMPEL would also boost the Bank's low-cost funds. As of the end of June 2015, Bank Mandiri's third-party funds stood at Rp 654.9 trillion. Of these, low-cost funds amounted to Rp 403.9 trillion, up 16.9% from last year.
PT Bank Mandiri (Persero) Tbk (the Bank) is an Indonesia-based banking company. The Bank's segments include Corporate Banking, Commercial Banking, Government Institution, Retail Banking and Treasury & International Banking. The Corporate Banking segment includes loans, customer deposits and other transactions to corporate customers. The Commercial Banking segment includes loans to the medium scale and automotive sector, customer deposits and other transactions to commercial customers. The Government Institution segment provides loans, customer deposits and other transactions to government entities and pension plans of state-owned enterprises. The Treasury & International Banking segment includes foreign exchange, money market, fixed income, international banking business, capital markets and the overseas branches. Its geographical segments include Indonesia, Asia (Singapore, Hong Kong, Timor Leste, Shanghai, Malaysia), Western Europe (United Kingdom) and Cayman Islands.
PT BANK MANDIRI (PERSERO) TBK 
