JAKARTA: Indonesia's largest financial institution, Bank Mandiri,
has handed its first corporate PR account to Golin/Harris Forrest.
The move comes as Mandiri prepares plans to take over Bank International
Indonesia and carry out a 30 per cent share float.
The Indonesian government established Mandiri in October 1998 from the
merger of four financially crippled state-owned banks: Bank Duta, Bank
Ekspor Impor Indonesia, Bank Pembangunan Indonesia and Bank Dagang
Jeffrey Shultz, Golin/Harris Forrest MD, said the bank wants to boost
its profile after improving its financial situation. 'They became
profitable last year, capital adequacy ratio is high and they have good
corporate governance,' he said.
The bank achieved this after retrenching 8,000 staff, closing branches
and completing a major restructure.