Indonesia's Bank Mandiri ranked region's 6th largest in term of market capitalization

With current market capitalization at a range of 98-100 trillion rupiah (about 10.3 to 10.5 billion U.S. dollars) Indonesia's largest bank, Bank Mandiri, was ranked number sixth largest among banks operating in Southeast Asian countries, Bank Mandiri senior official said here on Wednesday.

"The amount of our market capitalization is almost par with Maybank and Bangkok Bank," Bank Mandiri Chief Financial Officer Pahala Mansyuri was quoted as saying by Detik.com.

Pahala said that the bank management has set target to improve its market capitalization that par with other large banks in the region by 2014 to 2015.

Pahala also said that bank Mandiri intends to issue a 7-year service tenure bond in the near future at a value initially set at3 trillion rupiah (about 315.5 million dollars).

The value could be increase should the bank learned growing demand on the bond from the book building process that would be conducted from November 10 to 14.

According to Pahala, Bank Mandiri's bond is rated at double A and triple A from Pefindo, a national bond-rating agency.

Source: Xinhua