Bank Mandiri was established on 2 October 1998, as part of the bank restructuring program of the Government of Indonesia. In July 1999, four state-owned banks – Bank Bumi Daya, Bank Dagang Negara, Bank Exim and Bapindo – were amalgamated into Bank Mandiri. The history of these four banks can be traced back to over 140 years, and together they had contributed to the beginning of the Indonesian banking sector.
PT Bank CTBC Indonesia (“Bank CTBC Indonesia”) is 99% owned by CTBC Bank Co., Ltd, one of the leading banks in Taiwan. The remaining 1% is owned by PT Bank Danamon Indonesia Tbk., one of the premier Indonesian banks. CTBC Indonesia started its operation in Indonesia in 1997, mainly to serve the Indonesia-Taiwanese trade, under the name of PT Bank Chinatrust Tamara with 85% share owned by Chinatrust Commercial Bank Co., Ltd. and 15% by Bank Tamara. In 2001 Chinatrust Commercial Bank Co., Ltd. increased its ownership to 99% and changed the Bank’s name to PT Bank Chinatrust Indonesia. In 2013, Chinatrust Commercial Bank Co., Ltd. changed its name to CTBC Bank Co., Ltd., PT Bank Chinatrust Indonesia then followed with name change to PT Bank CTBC Indonesia.