Awards for Distinction 2023 – Best Private Bank – Indonesia

Best Private Bank Indonesia


Bank Mandiri

Best Private Bank – Indonesia

Ursula Sista Pravesthi

Senior vice president
Bank Mandiri

To be acknowledged as the Best Private Bank in Indonesia for three consecutive years is an astonishing achievement. We, Wealth Management Bank Mandiri, are very proud and grateful for this accomplishment.

We believe that the combination of our ability to understand our clients’ needs and our team’s commitment to work is key to our success.

As we aim to be the preferred partner, we are committed to providing exceptional service to our wealth clients. That will be delivered through our solid partnership with other internal divisions within Bank Mandiri and our subsidiaries such as Mandiri Sekuritas and Mandiri Manajemen Investasi.

What was behind the judges’ decision?

  • Bank Mandiri enhanced the digital capabilities of the Livin’ Investasi front-end system. Wealth segment customers are now able to make mutual funds and primary bonds transactions on their mobile phones
  • The bank plans to expand its wealth management team, introduce securities-backed financing, offer larger endowment insurance policies, and introduce more private equity products, cross-border solutions, and robo-advisory services. The bank already provides clients with exposure to global fixed income and alternative products, and it is a significant contributor to the mutual fund industry in Indonesia
  • Continuous skill and knowledge development for relationship managers aims to boost RM productivity, while the bank also observes an increase in revenue per RM. Its bankers manage about 10% of the wealth population in Indonesia

What we said

“Bank Mandiri’s wealth management persists in innovating to enhance its competitive edge and deliver tailored services to its wealthy segment customers,” said Audrey Raj, senior consultant and South Asia editor of Asian Private Banker. “Over the past year, its private banking customers grew by double digits, not to mention a substantial increment in AUM.

“The bank’s revenue comes from fee-based income obtained from transactions of investment products and net interest income. In the digital realm, it has launched its Digital Wealth initiative for improved access to investment financial products.

“All of this was taken into consideration when recognising Bank Mandiri as Best Private Bank – Indonesia for 2023. A huge congratulations to the team.”

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