SOE Minister Tells Bank Mandiri to Compete in ASEAN Market
29 January 2015 12:30 WIB
TEMPO.CO, Jakarta – State-owned Enterprises Minister Rini Soemarno ordered PT Bank Mandiri (Persero) Tbk. (IDX:BMRI) to compete in the ASEAN region, following the government's decision to give state banks capital equity participation (PMN).
"Currently we are proposing to have Bank Mandiri as a qualified ASEAN bank (QAB)," she said during a meeting with the House of Representatives' Finance Commission, yesterday.
According to Rini, the main requirement for a bank to become a QAB is to have a capital adequacy ratio (CAR) of at least 17.5 percent by 2019. Currently, Bank Mandiri's CAR stood at Rp91.74 trillion, ranked at number nine among other ASEAN banks.
The government has allocated a capital injection of Rp40.8 trillion for a number of SOEs. SOEs under the Finance Ministry receive an allocation of Rp75 trillion.
FAIZ NASHRILLAH | ANDI RUSLI
