The new president & CEO of Indonesia’s largest bank – in assets – PT Bank Mandiri Tbk (BMRI) Kartiko Wiroatmodjo, is targeting to acquire another bank or financial institution in Southeast Asian region.
This will help the bank to penetrate the ASEAN market and become a regional powerhouse in three to five years period, he said, adding: “Given our solid financial position, we are looking for acquisition possibilities in the region.”
Kartiko who is replacing Budi Gunadi Sadikin, was previously the director for Strategic and Finance at Bank Mandiri.
The bank is already in the process of opening regional branches in Malaysia and Singapore, he revealed.
Minister for State Owned Enterprise Rini Soemarno said that Kartiko had a clear vision and wealth of experience in the banking and financial industry and has worked both in local and international banks as well as government agencies.
Kartiko graduated with a BSc in Economics and Accounting from University of Indonesia and a Master Of Business Administration from Erasmus University, Rotterdam.
In 2003, He was appointed VP at Bank Mandiri. In 2008 he was appointed Managing Director of PT Mandiri Sekuritas. His main task was to implement comprehensive financial restructuring and business refocusing, post 2008 capital market crash.
Only last year (2015), he returned to Bank Mandiri as Managing Director and CFO for the bank. His responsibilities are including performing strategic financial planning for the Bank’s future performance.
As of end December 2015, Bank Mandiri’s total assets stood at Rp807.55 trillion, while its equity reached Rp111.75 trillion.