Bank Mandiri

Pre-merger

Bank Mandiri is the result of the merger made by Indonesian government from four older government-owned banks that failed in 1998. Those four banks were Bank Bumi Daya, Bank Dagang Negara, Bank Ekspor Impor Indonesia, and Bank Pembangunan Indonesia. During the amalgamation and reorganisation, the government reduced the number of branches by 194 and the number of personnel from 26,600 to 17,620.

Bank Bumi Daya and Bank Ekspor Impor Indonesia was previously merged in 1965 by the Guided Democracy government into Bank Negara Indonesia (BNI) umbrella. The Indonesian government then reorganized the banks in 1968 as the New Order government took place.

Bank Bumi Daya (BBD) started in 1959, when the government nationalized Nationale Handelsbank's operations in Indonesia as a part of boycott on Dutch companies amid both nation's dispute over Western New Guinea, and from them the government created Bank Umum Negara ("State General Bank"). In 1964, during Konfrontasi, the government nationalized Chartered Bank's operations in Indonesia and merged them into Bank Umum Negara; the British overseas bank had first entered Indonesia in 1863 when it opened an agency in Batavia (now Jakarta). In 1965 the government brought Bank Umum Negara into BNI, renaming it Bank Negara Indonesia Unit IV (BNI IV), but in 1968 BNI IV became an independent bank again with the name Bank Bumi Daya.

Bank Ekspor Impor Indonesia (BankExim, "Export Import Bank of Indonesia") was created in 1960 as the Indonesian government nationalized the Indonesian operations of Nederlandsche Handel-Maatschappij. The bank then merged into BNI by the government in 1965 and became Bank Negara Indonesia Unit II (BNI II). In 1968, the government split BNI II into two parts, with the BNI Unit II Export-Import Division becoming BankExim, which specialised in trade finance.

Bank Dagang Negara (BDN, "State Trading Bank") was established in 1960 from the nationalization of Escomptobank. Escomptobank NV, previously Nederlandsch Indische Escompto Maatschappij until 1949, was established in Batavia in 1857.

Bank Pembangunan Indonesia (Bapindo, "Development Bank of Indonesia") had its root from Bank Industri Negara (BIN, "State Industrial Bank"), which was established in 1951. The bank was aimed to finance priority sectors, such as plantations, industry and mining. In 1960, the Indonesian government established Bapindo and merged BIN into it. Bapindo specialised in medium and long-term financing of manufacturing, tourism and transportation. In 1986, Bapindo expanded into general commercial banking.

Merger and later history

In 1998, the government merged BBD, BDN, BankExim and Bapindo to create Bank Mandiri to restructurize some state-owned banks to manage impacts of financial crisis at the time. Bank Mandiri was established on 2 October 1998, and the merged banks operated effectively as a single bank starting on 31 July 1999. The name Mandiri (Indonesian for "self-reliant" or "independent") was coined by President B. J. Habibie during his presidency, with the hope that the bank could become a self-reliant bank and encourage the people, especially who need microfinancing, to also become self-reliant.

In 2004, the bank opened a branch in Dili, East Timor and a representative office in Shanghai, China.

Products

Consumer banking

Mandiri Savings:

Mandiri Saving account

Mandiri Business Saving

Mandiri Plan Saving

Controversy

On 21 August 2026, a bank account belonging to an activist used to collect donations for a planned protest in Jakarta by residents of Pati was blocked by Bank Mandiri just days before the United Pati Community Alliance (Aliansi Masyarakat Pati Bersatu; AMPB) was scheduled to stage a demonstration in front of the House of Representatives on 27 August. The blocking of the account came to light after a video featuring an AMPB activist named Botok circulated on social media on August 22. In the video, uploaded by the X account @cprxn_id, Botok stated that his account containing both personal funds and donation money totaling approximately IDR 80.9 million had been blocked. The matter subsequently drew the attention of netizens, prompting calls for clarification from Bank Mandiri. Through its official account, Bank Mandiri stated that the account was blocked in response to a request from law enforcement authorities. In the video, Botok, the coordinator of AMPB, stated that his personal account is used to hold both his own money and donation funds that had been blocked. "To make matters worse, my account containing my personal funds and donations from friends, totaling over 80.9 million has been blocked," Botok said in the video. He then displayed a screenshot from the Livin’ by Mandiri app as evidence to support his claim. The video subsequently circulated widely on social media, drawing the attention of netizens. After the video went viral, an X user with the handle @manaf327 asked Bank Mandiri for clarification regarding the account blockage. Bank Mandiri then provided an explanation via its official account, stating that the blockage was a follow-up action to a request from law enforcement authorities. "We would like to inform you that the blocking of the account was a measure taken by Bank Mandiri in response to a request from law enforcement authorities and was carried out in accordance with applicable procedures and regulations," Bank Mandiri wrote. "Bank Mandiri remains committed to supporting law enforcement processes while upholding the principles of Good Corporate Governance (GCG), compliance, and prudence in delivering banking services," they added.