Infobank, a leading banking and finance publication in Indonesia has recognised Mutiara Bank as ‘good’ or ‘bagus’ and 39th in its category for banks in Indonesia with capital of between 100 Billion RP and 1 Trillion RP for its annual awards in the industry. The award ceremony took place in Yogyakarta on 13th July 2012.

The Infobank awards rank a total of 120 banks in the country according to various criteria related to the institutions’ financial performance for the preceding year. Banks are divided into categories according to their level of capital i.e. above 50 Trillion RP, 10 Trillion to 50 Trillion RP and 100 Billion RP to 1 Trillion RP. The financial performance of the banks are judged based on parameters including the ratio of capital, asset quality (productive assets), profitability, liquidity, efficiency and fund growth, credit, capital, and earnings.

Infobank’s analysis of Mutiara Bank’s performance took into account its impressive growth and consolidation since 2009 when it was taken over by the Indonesia Deposit Insurance Corporation. Over 2010-2011, Mutiara Bank achieved asset growth of 21.73% to 13.13 Trillion RP, increased credit by 49.11% to 9.40 Trillion RP and third party funds by 25.83% to 11.20 Trillion RP. These results illustrate the progress that the organisation has made from its initial survival, recovery and rebranding phase to strengthening its core competencies in risk management, trade finance, retail banking and corporate funding.

For the coming years, Mutiara Bank will continue to expand its national network through new branch offices having most recently opened new offices in Serpong, Batam, and Samarinda. Plans are also in place to further improve the banks’ financial performance by improving savings and deposits ratios as well as expanding retail credit and funding.