Govt to replace five Bank Mandiri, BRI directors

The government has said it will soon replace five directors of state-owned Bank Mandiri and Bank BRI, the country's top and second-largest lenders by assets.

The State-Owned Enterprises Ministry's deputy for the banking and financial service sector Parikesit Suprapto explained that the replacements had nothing to do with problems in the executives' work performances, but were because they were entering the ends of their terms in office.

“Two BRI directors and three Bank Mandiri directors will be replaced,” Parikesit said on Tuesday in Jakarta, as quoted by kontan.co.id.

“They aren't always replaced when they have served for two terms. [Periods of service] can actually be extended. It all depends on the commissioners,” he added.

Parikesit refused to name the soon-to-be-replaced directors, but Kontan.co.id reported, based on information from anonymous sources, that Bank Mandiri's director for treasury and special asset management, Thomas Arifin, director for risk management, Sentot A. Sentausa, and director for micro and retail banking, Budi Gunadi Sadikin, were among those who would be replaced.

At BRI, the replacement plan might affect corporate director Sulaiman Arief Arianto and director for business and consumers Toni Soetirto, among others.