Bank IndoMonex was incorporated under the name PT Bank Pasar Gunung Tampomas Jaya based on a notarial deed dated 24 October 1970. In 1990, the Bank changed its name to PT Bank Indo Monex (BIM)and commenced operations as a commercial bank since 1 May 1990.
The Bank obtained a license to operate as a money changer from Bank Indonesia by a letter dated 22 September 1993. The Bank is not registered to deal in the foreign exchange market. BIM to approach Bank Indonesia for Devisa license shortly. The Bank has 4 branch offices and 3 sub branch offices.
In Dec 14th 2006, State Bank of India (SBI) has acquired 76 % share capital of the Bank and took Management control. State Bank of India is a largest Bank in India and is considered to be a proxy for the Indian Economy. SBI is a Fortune 500 company with Investment Grade Rating from Moody’s and S&P.
The present shareholding pattern of the bank is as under:
State Bank of India 76 %
PT. Ravindo Jaya 24 %
State Bank of India (SBI) is a Public Sector Banking Organization, in which the Government
of India is the biggest shareholder. It is the largest bank in India and is ranked at
380 in 2008 Fortune Global 500 lists, and ranked 219 in 2008 Forbes Global 2000.
Measured by the number of branch offices,
The origin of State Bank of India dates to 1806 when the Bank of Calcutta
(later called the Bank of Bengal) was established. In 1921, the Bank of Bengal and two
other presidency banks, Bank of Madras and Bank of Bombay were amalgamated to form the
Imperial Bank of India. In 1955, the controlling interest of the Imperial Bank of India were
acquired by the Reserve Bank of India and the State Bank of India was created by an Act of
the Indian Parliament.
The Bank has seven Associate Banks and one fully owned banking and six non-banking
domestic subsidiaries. The Bank's non-banking subsidiaries are marketleaders in their
respective areas and provide wide-ranging services including investment banking,
funds management, gilt securities, factoring, boring and credit cards making the
SBI Group a truly large financial supermarket.
SBI is India's largest bank with a 200 year-old history.
It is ranked 70th among the "Top 1000 Banks" in the world as per the latest Bankers' ranking.
SBI enjoys Investment Grade rating, equivalent to the Indian sovereign rating,
from the top international rating agencies. 59.73% of the shares of this Fortune
500 entity are owned by the Government of India.
With 18 domestic subsidiaries and 8 foreign subsidiaries, the State Bank Group is
India's financial icon commanding nearly 25% of the domestic market.
It has a widespread network of branches, with 14337 branches in India and 83 offices
in 32 other countries across the world.
The Bank has relationships with 720 correspondent banks world-wide.
SBI is the second largest bank in the world. With 10,000 branches and a further 4000+ associate bank branches, the SBI has extensive coverage. State Bank of India has electronically networked all of its metropolitan,
urban and semi-urban branches under its Core Banking System (CBS), with over 10800+ branches being incorporated. With this, 'SBI has become the largest bank in the world, covering 10800+ offices on a single core banking
platform. The bank has the largest ATM network in the country having more than 8000+ ATMs.
In 2008 SBI was ranked 380 from a rank of 495 in 2007. As per Fortune 500-2008 following are the data for SBI.
R e m a k s
In US $ million
The Bank is also the Government's preferred bank and is regarded as the flagship of Indian
banking. The Bank has pioneered innovative measures and contributed significantly to the
growth of the Indian economy. It has been taking new initiatives with the changing economic
environment and is poised to establish itself in the new millennium as a premier Indian
financial services group with a global perspective and world-class standards of efficiency.
At present BIM is providing plain vanilla deposit and advances products to its customers. All the Branches are networked and operated under the core banking platform on Alphabits System provided by M/s.Sigma which is quick, safe and effective.
Quality and excellent service to all individual clients and corporation remain to be our focus in serving entire society and client. BIM’s employees are motivated to strive for customer delight and are dedicated to provide excellent quality service to Individual as well as Corporate clients.