Bank Mandiri Strengthens Trade Finance Business

Jakarta, 26 August 2014 - Bank Mandiri continues to strengthen its trade finance services to support trade transactions in Indonesia. From the start of the year until the end of June 2014, the Bank handled trade transactions worth USD 60.6 billion, up from USD 59.8 billion during the same period last year. The increase has boosted Bank Mandiri's market share to 33.93%.

Bank Mandiri Senior Executive Vice President of Transaction Banking, Rico Usthavia Frans, said that the Bank's achievements in the trade finance segment were closely related to the support provided by its correspondent banks, which totaled 1,264 as of the end of June 2014, as well as by Bank Mandiri's 2,087 domestic and seven overseas branch offices.

"We are continuously strengthening our business in this sector as we believe that it is not only capable of boosting Bank Mandiri's financial performance, but will also help encourage the growth of Indonesia's domestic and overseas trade, which in turn will spur national economic growth," Rico said in Jakarta on Tuesday (26 Aug).

As part of Bank Mandiri's ongoing efforts to strengthen its trade financing business, Rico continued, it provides a comprehensive range of solutions so that customers can manage their cash flows more effectively and efficiently. Solution delivery is supported by competent and knowledgeable staff with expertise in the field of trade finance and an integrated e-service system that facilitates the conducting of trade finance transactions.

In recognition of Bank Mandiri's achievements and innovative solutions, it was named Best Trade Finance Bank in Indonesia by international publication Alpha Southeast Asia during its 8th Annual Best Financial Institution and Corporate Awards.

In addition, Alpha Southeasat Asia also bestowed a number of other awards and accolades on Bank Mandiri -- Best Bank in Indonesia, Best Private Wealth Management Bank, Best FX Bank for Corporations and Financial Institutions, Best CFO in Indonesia and Southeast Asia and the Most Organised IR.

"Winning these awards will encourage us to further grow our trade finance business by making maximum use of the available opportunities in order to expand in a much better direction on a sustainable basis in the future," Rico said.
distributed by