On 1st October 2015, J Trust Bank celebrated the successful launch of its operations in Indonesia during an event held at the Raffles Hotel in Jakarta. The occasion marks a fresh era for the bank following on from a rebranding strategy being carried out under the new ownership of J Trust Co Ltd Japan.
On 6th June 2014, Mutiara Bank and Andalan Finance Indonesia (AFI) agreed to extend their strategic partnership following the signing of a cooperation agreement on credit facility. The extension of this partnership will involve the further distribution of credit facility amounting to 100 billion IDR, bringing total loans disbursed by Bank Mutiara to AFI to 230 billion IDR.
Mutiara Bank on 30th April 2014 announced plans to continue its cooperation with PT. Asuransi Central Asia through an extension of existing business ties and an increase in the limit of its bank guarantee services. The continuation of this mutually beneficial cooperation was formally agreed upon during an MoU signing at the Mutiara Bank headquarters in Jakarta, and introduces a 267 billion IDR limit for bank guarantees disbursed to ACA – up from the maximum set in the previous cooperation agreement
On 17th March 2014, the Indonesia Deposit Insurance Corporation (LPS) formally announced the specific details of its long-established plan to sell all of its shares in Mutiara Bank. LPS, holders of 99.9% of shares in Mutiara Bank, initiated the auction process earlier in the month in accordance with Article 42 of Law Number 24 of 2004 and Law Number 7 of 2009
On 20th January 2014, Bank Mutiara signed a Cooperation Agreement with Gelora Karya Jasatama, a subsidiary of Dana Pensiun Bank Mandiri Dua (DPBM 2), at their Head Office in Jakarta. Through this cooperation, Gelora Karya Jasatama will work as Bank Mutiara’s dedicated insurance broker to lend their expertise in asset insurance closing, debtor guarantee and collateral as well as bank product insurance.
Bank Mutiara on 13th January 2014 held a workshop on non-performing loans (NPL) in cooperation with Bank Mandiri. At the event, Mr Hikmat Nazar, Head of the Legal Department’s Special Asset Management Division at Bank Mandiri discussed strategies that could be taken to settle Bank Mutiara’s NPLs, as a means of resolving the issue of a number of delinquent debtors that date back to the Bank Century era.
Bank Mutiara has signed a strategic partnership with PT Andalan Finance which was officially marked by a signing ceremony on 20th August 2013 at the bank’s head office in Jakarta. This cooperation serves to increase the bank’s available credit lines by a further 100 billion RP bringing its upper lending ceiling to 130 billion RP. This increased funding will be used to support the bank’s funding target of 3 trillion RP for 2013.
Mutiara Bank has launched its first Microfinance services kiosk at the bank’s Fatmawati branch in South Jakarta which marks the beginning of the bank’s aggressive expansion into the sector. Over the course of 2012, the bank undertook a pilot project for microfinance services at five branches which proved to be highly successful in terms of loan performance and return on equity (ROE).
Mutiara Bank Tbk has announced its plans to enter the micro business sector. The banks aims to make microlending a significant source of income and thus raise its value and performance level. The bank has already applied for the necessary permits from Bank Indonesia and is expected to have the official permit in February 2013.
In the aftermath of the Bank Century case, the dispute regarding the responsibility of Mutiara Bank to pay compensation to Antaboga’s investors continues to divide opinion among the public, regulators and banking industry. The case involves hundreds of retail investors who bought fraudulent investment products from PT Antaboga Delta Sekuritas through Bank Century.
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.
Mutiara Bank is endeavouring to change the culture of the company and its employees in order to enhance and improve its image and re-establish the company's performance as a Prima INTI Agent Of Change. The event was held on 12th August by the Division of Corporate Culture and Service at the Function Hall of the International Financial Centre.
At the Hotel Shantika in Bogor on 26th July, PT Mutiara Bank Tbk re-established their cooperation with PT ASABRI. The agreement covers cooperation over the payment of insurance and pension benefits for retired members of the armed forces. The event was attended by the directors of Mutiara Bank and the board of directors of PT ASABRI.
In order to re-establish cooperation with PT Mutiara Bank and Koperasi Megah Nusantara, the bank will be extending the availability of credit subject to the loan financing facility. The signing ceremony for the new cooperation was attended by directors and commissioners of the bank and by the Director of Koperasi Megah Nusantara with the exchanging of souvenirs at the end of the ceremony from each side.