TEMPO.CO, Jakarta - Bank Mandiri will open a branch in Malaysia named Bank Mandiri Berhad, after the state-owned bank earned the Qualified ASEAN Bank (QAB). The Malaysian branch is scheduled to start operating at the end of this year.
Mandiri president director Kartika Wirjoatmodjo said the company has earmarked RM300 million or Rp36 billion for the expansion.
Bank Mandiri currently has seven overseas branches; five in Cayman Islands, Dili, Hong Kong, Shanghai, and Singapore; and two subsidiaries in London (Bank Mandiri Europe Limited) and in Malaysia (Mandiri International Remittance)
The biggest bank in Indonesia continues to explore expansion plans overseas, mainly to several ASEAN countries including Myanmar and the Philippines.
The Central Bank of Malaysia's governor Dato’ Muhammad Ibrahim said Bank Mandiri's operations in his country reflects the close relationship between both nations. "This is also proof of the ASEAN spirit," he said.
FERY F.