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Bank Mega is Rated "idA+" With Outlook Stable

PEFINDO has assigned its “idA+” rating for PT Bank Mega Tbk (Bank Mega). The outlook for the corporate rating is “stable”.

An obligor rated idA indicates that, the obligor has a strong capacity to meet its long-term financial commitments relative to that of otherIndonesian obligors. However, the obligor is somewhat more susceptible to the adverse effects of changes in circumstances and economicconditions than higher-rated obligors.

The Plus (+) sign indicates that the rating is relatively strong within the respective rating category.
 
The rating reflects Bank Mega’s strong position in the banking industry supported by business synergy with CT Corpora (the Group),very strong capitalization indicators, and strong liquidity and financial flexibility profile. However, the rating is constrained by the Bank’s below average asset quality profile and moderate profitability indicators.

The rating could be raised if the Bank could strengthen its market position substantially and on a consistent basis, and at the sametime significantly strengthen its asset quality and profitability profiles. The rating could be lowered if the Bank’s market share in thebanking industry continue to decline, or the Bank suffers from deteriorating capitalization and liquidity indicators.

Bank Mega is a local-private commercial bank initially established in 1968 under the name of PT Karman Bank. As of September 30, 2016, the Bank was supported by 9,003 employees with a network of 53 branches and 289 sub branches. The Bank is owned by PT Mega Corpora (57.8%) and public (42.2%). PT Mega Corpora is a financial holding company controlled by CT Corpora, a local conglomeration founded by Chairul Tanjung. Besides financial services, CT Corpora also engages in other sectors such as media, retail, and natural resources.

Mega Highlights
  Curr             Buy            Sell
USD
13250
13550
EUR
13999
14329
AUD
10150
10393
SGD
9414
9634
JPY
117.31
120.07
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