The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
AwardsAsia Private Banking Awards

Best for investment research in Indonesia 2022

Bank Mandiri

In 2020, as global markets quaked, Bank Mandiri found a creative way to signal all was well: it named Muhamad Chatib Basri, the battle-tested former Indonesian finance minister, as its new chairman.

In 2021, it was the turn of the bank’s wealth management unit to show its mettle. It did so with flying colours, as assets under management grew 6.6%, year on year, to $17.2 billion. That was despite the most volatility Indonesia had seen since at least the 2013 US Federal Reserve driven taper tantrum.

In that environment, many wealth managers scrambled to rebalance their portfolios and switch to investment products carrying less exposure to plunging overseas markets. Even while mayhem ensued, though, Bank Mandiri advised clients to buy things that its research team deemed undervalued. This turned out to be a profitable move as bourses bounced back later in 2021. The good news is that the investment research team that wins this year’s Asiamoney award is quite optimistic about Indonesia’s chances of rising out of any number of global storms in 2022.

Although the Russia-Ukraine crisis is a wild card, the bank reckons this year’s Fed tightening cycle will come with clearer communication regarding policy plans – unlike during the 2013 tantrum that shocked emerging markets everywhere.


We use cookies to provide a personalized site experience.

By continuing to use & browse the site you agree to our Privacy Policy.
I agree