Work In Action



Bank Mandiri Initial Public Offering 2003

The PR Challenge:
To enhance Bank Mandiri’s public image and increase public support and investor interest in the lead up to Bank Mandiri’s IPO. As the result of a merger of 4 failed banks, Bank Mandiri faced an environment of sluggish global market and a reputation crisis caused by the deep financial crisis in South East Asia followed by an economic crisis in 1997 with Indonesia and its banking sector severely impacted.
The PR Program:
IM&A identified all the negative issues clouding the bank’s public image and investors’ concerns and developed an integrated communications program, encompassing external communications for the media and investors and employee communications in Indonesia. We crafted key messaging to address the issues and developed the content for all internal communications and external communications materials and managed the Public Expose in Jakarta and Surabaya. For the international aspect of communication, IM&A worked hand in hand with the global PR agency, Burson Marstellar.
The Results:
The program resulted in substantial positive coverage for Bank Mandiri and led to a change in public opinion of the bank, consequently boosting its image and supporting its IPO objectives. As a response to the high investor interest in Bank Mandiri’s IPO, the government increased the portion of shares offered from 15% to 20%, and the IPO was oversubscribed. Today Bank Mandiri is the cornerstone of Indonesia’s banking industry.