PT Bank Mandiri (Persero) Tbk, the largest Indonesian bank in terms of assets, is looking to open a branch in Manila, the Philippines' Business World reported June 4, citing a senior official.
The Indonesian bank's officials have held talks about the matter with the officials of the Philippines' finance department and the central bank. However, the bank has not yet filed a formal application with the central bank for a branch, the report said.
If Bank Mandiri pushes through with its plan, it would become the first Indonesian bank to set up operations in the Philippines.
