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PT. Koexim Mandiri Finance (KMF) was established on December, 1991 as a joint venture multifinance company by and between the Export-Import Bank of Korea and Bank Dagang Negara, former Indonesian state-owned bank, starting its business on June 1992.

The Export-Import Bank of Korea (the “Korea Eximbank”), the major shareholder of KMF, is a special governmental financial institution established on July 1, 1976 under the Export-Import Bank of Korea Act. The primary objectives of the Korea Eximbank are to extend financial support for export and import transactions, overseas investment projects and the development of natural resources abroad by means of providing loans, guarantees and other financing facilities. It also aims to enhance economic cooperation with developing countries through Official Development Aid programs of the Economic Development Cooperation Fund.

PT. Pengelola Investama Mandiri, another shareholder of KMF is the management company for all subsidiaries of Bank Mandiri established in 1999. With the 1997-1998 Asian Financial Crisis, as part of banking sector restructuring program, four state-owned banks, namely, Bank Bumi Daya(“BBD”), Bank Dagang Negara(“BDN”), Bank Ekspor-Import and Bank Pembangunan Indonesia(“Bapindo”) were all merged into Bank Mandiri which effectively started its operations in July, 1999. Accordingly, shares owned by BDN were transferred to Bank Mandiri Group.

  • Moved into current place (Equity Tower in SCBD)
  • Increased the paid-in capital by IDR 16 billion to IDR 52 billion
  • Replaced the company’s name with PT Koexim Mandiri Finance
  • PT Bank Dagang Negara (BDN) was merged into PT Bank Mandiri
  • Increased the paid-in capital by IDR 21 billion to IDR 36 billion
  • Started the business on June 1, 1992
  • Established under the name of PT Koexim BDN Finance on December 20, 1991