Jakarta (Admin). SMBCI has been selected as the best bank this year for the category of national banks with total assets of Rp 1 trillion to Rp 10 trillion in an award competition organized by Investor Magazine.
Director of Compliance Taufik Hakim received the award on behalf of the Bank's Board of Directors on Wednesday, 11th July at the Ballroom of Aryaduta Hotel, Jakarta.
In the same competition, PT Bank Niaga Tbk. and PT Bank Lippo Tbk. were ranked the best bank with total assets between Rp 10-50 trillion while PT Bank Kesejahteraan Ekonomi was ranked the best for banks with total assets below Rp 1 trillion.
This year, Investor Magazine selected eight banks as the best banks in their respective groups.
Bank Jawa Tengah was recognized as the best Regional Development Banks (Bank Pembangunan Daerah - BPD) for the asset group above Rp 10 trillion, Bank Nusa Tenggara Timur for BPD with assets of less than Rp 10 trillion, and Citibank was ranked first under representative bank category.
According to the Director of Globe Media Group (the publisher of Investor Magazine) Primus Dorimulu, the rating applied a number of criteria such as capital adequacy ratio and NPL.
As of the end of April 2007, SMBCI's financial data showed Earnings Before Tax (unaudited) of Rp 129.92 billion. Lending was Rp 6 trillion, Third Party Funds was Rp 6.16 trillion and Assets totaled Rp 7.4 trillion.
In line with the Bank's Business Plan of 2007, the enhancement of operational system, human resources, IT and Risk Management are the basis for the Bank in expanding its business beyond the pension market to be pursued in 2007. The year will also see significant development such as funding product diversification, development of micro & small enterprise loans, Sharia Business Unit, and foreign exchange bank activities.
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