Bank Mandiri to Undergo Leadership Restructuring

Major Changes Ahead of 2026

PT Bank Mandiri (Persero) Tbk, Indonesia's largest state-owned bank, is set to undergo significant leadership restructuring through a Special General Meeting of Shareholders (EGM) scheduled for December 19, 2025. The EGM, as disclosed in the company's information disclosure, will focus on three primary agenda items that will shape the bank's future direction.

Key Agenda Items

1. Approval of Changes to Articles of Association: The proposed amendments to the company's Articles of Association will be presented for shareholder approval, potentially modifying key governance aspects.
2. Delegation of Authority for 2026 Budget: Shareholders will be asked to delegate authority for approving the bank's 2026 Work Plan and Budget (RKA), giving management flexibility in planning future operations.
3. Changes to Board Composition: The most significant item on the agenda is the planned restructuring of the bank's leadership, including both commissioners and directors. This move follows guidance from the State-Owned Enterprises (SOE) Ministry as indicated in their letter dated November 19, 2025.

Background and Implications

The planned leadership changes come at a critical time for Bank Mandiri, which remains a cornerstone of Indonesia's banking sector. As one of the four state-owned banks under the Himbara group, Mandiri's strategic decisions have significant implications for the broader financial landscape. The restructuring is expected to align with the government's vision for state-owned enterprises while positioning the bank for future market challenges.

Strategic Context

This leadership restructuring is part of a broader effort to maintain competitiveness in Indonesia's evolving banking landscape. The changes are likely to impact the bank's strategic direction, potentially affecting areas such as digital transformation, credit growth, and market expansion. As the largest state-owned bank, Mandiri's moves are closely watched by industry observers and competitors alike.