INTERNATIONAL: G/H Forrest nets Indonesian bank corporate work

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.

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