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Bank Mandiri to seek $800 mln funding this year - finance officer
February 12, 2015 / 6:37 AM / 3 years ago

Bank Mandiri to seek $800 mln funding this year - finance officer

JAKARTA, Feb 12 (Reuters) - Indonesia’s largest bank by assets, PT Bank Mandiri Tbk, is planning to seek about $800 million wholesale funding this year after parliament rejected a government capital injection proposal, its chief finance officer said on Thursday.

The funding plan has been included in Bank Mandiri’s 2015 budget, chief finance officer Pahala Mansury said. The bank may issue bonds or tap the capital market.

“We are still reviewing whether we need funds from the capital market and in what form,” Mansury said.

Indonesian parliament’s budget body rejected the government’s plan to inject 5.6 trillion rupiah ($436.65 million) in capital into the state-controlled lender.

On Wednesday the bank reported a 9 percent increase in profit for 2014 to 19.87 trillion rupiah. ($1 = 12,825.0000 rupiah) (Reporting by Cindy Silviana; Writing by Fransiska Nangoy; Editing by Stephen Coates)

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