PT Bank Mandiri Tbk proposed subordinated bond IDR5 triliun to increase the capital adequacy ratio (CAR). PT Pemeringkat Efek Indonesia (Pefindo) assigned a corporate rating of idAAA to Bank Mandiri and idAA+ to its proposed IDR5 trillion subordinated bond, both with stable outlook.
The ratings reflect strong support from the Government of Indonesia, the bank’s superior market position, and the successful transformation into a bank with multi-faceted business. However, the ratings are constrained by Bank Mandiri relatively weak asset quality and tightening competition in the industry.
Bank Mandiri provides an extensive range of products and services in commercial banking, international banking, sharia banking, investment banking, insurance, and consumer financing, with the support of its principal subsidiaries including Mandiri Sekuritas, Bank Syariah Mandiri, Bank Mandiri (Europe) Limited, AXA Mandiri Financial Services, Bank Sinar Harapan Bali, and Mandiri Tunas Finance.
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