PT Bank Mega Tbk : Bank Mega rated “idAA-” from Pefindo
December 30, 2021
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Bank Mega rated "idAA-" from Pefindo
Dec. 1, 2021
PEFINDO has assigned its "idAA-" corporate credit rating to PT Bank Mega Tbk (Bank Mega). The outlook for the rating is "stable".
An obligor ratedidAA differs from the highest-rated obligors only to a small degree, and has a very strong capacity to meet its long-term financial commitments relative to that of other Indonesian obligors. The minus (-) sign indicates that the rating is relatively weak within its category.
The rating reflects Bank Mega's strong position in the banking industry supported by its business synergy with CT Corpora (the Group), superior capitalization indicators, and strong liquidity and financial flexibility profile. However, the rating is constrained by tight competition in retail fund.
The rating may be raised if BankMega substantially strengthens its market position and simultaneously improves its retail funding profileon a sustained basis. However, the rating may be lowered if its market presence shrinks markedly or its financial indicators deteriorate significantly.
Bank Mega is a private commercial bank, focusing on the corporate and consumer segments. As of 9M2021, its shareholders were PT Mega Corpora (58.02%) and public (41.98%). PT Mega Corpora is a holding company for financial services, and it is 99.99% owned by CT Corpora.
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PT Bank Mega Tbk published this content on 01 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2021 13:39:04 UTC.
PT Bank Mega Tbk is an Indonesia-based company that is engaged in providing banking services. The Company's products and services include savings, loans, trade finance, services, cash payments, international transaction and treasury. Its savings products include savings, such as Mega Dana, Mega Maxi, Mega Berbagi, Mega Rencana, Mega Perdana, Mega Ultima, Mega Valas and TabunganKu; current accounts, such as Mega Pro, Mega Bisnis, Mega Pro Valas and Mega Bisnis Valas, and deposits, such as Mega Depo, Mega Depo Valas and Mega Depo on Call. Its loan products include working capital loans, investment loans, consumer loans and indirect channels. The Company's trade finance products include export products, import products and guarantee products. Its services include Mega ATM, Mega Pass, Mega Cash, Mega Auto Pay, Mega Internet, Mega Internet Bisnis, Mega Tax and Mega safe deposit box (SDB). Its cash payment products include Mega Infinite Card, Mega Travel Card and Mega Platinum Card.
PT BANK MEGA TBK 
