Receh.in - Bank Mandiri, one of the largest state-owned banks in Indonesia, has announced plans to issue green bonds in the first semester of 2023. The Director of Treasury & International Banking, Panji Irawan, made the announcement during a press conference in Jakarta on Tuesday.
Irawan stated that the bank has already developed a Business Plan (RBB) for the issuance of the green bonds, which will have a value of approximately IDR 5 trillion (approximately $350 million). He added that the bank is committed to Environment, Sustainable, and Government (ESG) practices and that the green bond issuance is part of this commitment. Currently, 24% of the total credit disbursed by Bank Mandiri is related to ESG practices.
The issuance of the green bonds is currently being processed and requires approval from the Financial Services Authority (OJK). Irawan noted that the bank's liquidity in 2023 will be supported by Third-Party Funds (DPK) and wholesale funding such as bonds, Negotiable Certificate of Deposit (NCD), and repo to maturity. The Loan to Deposit Ratio of Bank Mandiri in 2023 will depend on the speed of credit disbursement, which is influenced by the ability of potential borrowers.
In conclusion, the issuance of green bonds by Bank Mandiri is a significant step towards promoting sustainable and environmentally-friendly practices in the financial sector and is a commitment to contributing to the country's development.
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