Mandiri offers scholarships worth Rp 7 billion next year

The Jakarta Post, Jakarta

State-owned bank PT Bank Mandiri will provide scholarships and entrepreneurship training worth Rp 7 billion for thousands of students next year as part of its corporate social responsibility program.

"The scholarships, available for 8,100 students at elementary to college level across Indonesia, are aimed to help improve education in Indonesia," president director Agus Martowardojo said Friday after signing of memorandum of understanding with leaders of 20 universities.

The universities include the University of Indonesia (Jakarta), University of North Sumatra (Medan), Airlangga University (Surabaya), Bandung Institute of Technology (Bandung), Pattimura University (Ambon), Jakarta State University (Jakarta), Gadjah Mada University (Yogyakarta) and Lambung Mangkurat University (Banjarmasin).

Beside talented students, Agus said, the bank also hopes to provide scholarships for those interested in entrepreneurship, to encourage them to create jobs after they graduate.

"Most graduates in Indonesia focus more on finding jobs after they graduate, rather than creating them. Actually, there are many jobs that can be potentially created," he said.

To help stimulate ideas on job creation, the bank would also hold seminars and training on entrepreneurship, he said.

Agus said the distribution of scholarships and training program would begin in January.

According to Mandiri's director micro and retail banking, Budi Gunadi Sadikin, the scholarships were worth some Rp 5 billion while the entrepreneurship scholarships for college students were worth Rp 2 billion.

Bank Mandiri, the country's biggest bank in terms of assets, recorded Rp 3.17 trillion net profits in the first nine months of 2007, indicating a 168 percent rise from Rp 1.18 trillion in the same period last year.

The sharp increase in profits was attributed to substantial increases in loans from Rp 108.7 trillion to Rp 121.7 trillion. The bank's third party funds rose from Rp 91.8 trillion to Rp 122.3 trillion.(ndr)