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Bank Mandiri

Getting Rid of a Legacy

Tuesday, October 7, 2003

At Bank Mandiris AGM, it was agreed that 10 percent of claims on all guaranteed non-performing loans be wiped out. But there are traps for other NPLs.

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WITH the pleasant sounds of an organ and a saxophone in the background, the meeting of the shareholders of Bank Mandiri opened in a very satisfying atmosphere. There were no meaningful problems. All participants agreed with every item on the agenda at the meeting on Monday last week.

And at its peak, the Annual General Meeting (AGM) of Shareholders of Bank Mandiri agreed to re-appoint Edward Cornelis William Neloe as Managing Director of the large

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