Mandiri Provides Rp 1.2 trillion in Financing to KAI for South Sumatra Double Tracking
Jakarta, 27 December 2016 - Bank Mandiri has once again demonstrated its commitment to infrastructure development in Indonesia through the provision of a Special Transaction Loan of Rp 1.2 trillion to PT Kereta Api Indonesia (KAI). The loan will be used by KAI to finance the double tracking of the rail line from the Bukit Asam mines in Tanjungenim Baru to Tarahan, Lampung, South Sumatra.
The loan agreement was signed by Bank Mandiri SEVP Corporate Banking Alexandra Askandar and KAI Finance Director Didiek Hartantyo at Plaza Mandiri in Jakarta on Tuesday (Dec 27).
Alexandra said that the loan, which has a tenor of 10 years, was a manifestation of the Bank’s support for strategic national infrastructure projects.
“We are committed to consistently supporting strategic national projects. The double tracking of this line in South Sumatra is very important as it will help speed up coal deliveries by PTBA to the power plants in Tarahan and Suralaya," said Alexandra.
Alexandra said that the provision of the loan also reflected synergies between two key state enterprises in accelerating the procurement of infrastructure, which was essential to accelerating the pace of national economic growth and boosting national economic resilience.
As of the end of October 2016, Bank Mandiri had provided financing amounting to Rp 96.9 trillion to the infrastructure sector, representing an increase of 53 percent year on year (yoy). Of this figure, Rp 37.1 trillion had been provided to the transportation sector and Rp 32.1 trillion to the power sector.
Meanwhile, Bank Mandiri’s total financing commitment to the rail sector stood at Rp 4.8 trillion as of the end of December 2016.
“Bank Mandiri will continue to strengthen its position as a corporate financing bank. Our corporate loans as of the end of the third quarter of 2016 stood at Rp 212.4 trillion, up 14.3% yoy,” Alexandra said.
About PT Bank Mandiri (Persero) Tbk
Bank Mandiri is the largest Bank in Indonesia, providing services in the Corporate, Commercial, Micro & Business, Consumer Banking and Treasury segments. The Bank’s subsidiaries are Mandiri Sekuritas (capital market services), Bank Syariah Mandiri (shariah banking), Bank Mandiri Taspen Pos/ Mantap (MSME sector), AXA-Mandiri Financial Services (life insurance), Mandiri InHealth (health insurance), Mandiri Axa General Insurance (general insurance), Mandiri Tunas Finance (consumer finance), Mandiri Utama Finance (financing services), Mandiri International Remittance (remittance services), Mandiri Europe (treasury & financial institutions), and Mandiri Capital Indonesia (venture capital).
As of the end of September 2016, Bank Mandiri operated 2,505 branches throughout Indonesia, and 7 branches/representative offices/subsidiaries overseas. The Bank’s distribution network consisted of 17,461 ATMs linked to the ATM Link, ATM Bersama, ATM Prima and Visa/Plus networks. In addition, the Bank operated more than 269.3 thousand Electronic Data Capture machines and a range of other electronic channels, including Internet Banking, Mandiri Mobile, SMS Banking and Call Center 14.000.
For more information, please contact:
PT Bank Mandiri (Persero) Tbk.
Tel: 021-5245740 Fax 021-5268246