...Support-Driven Ratings: PT Bank Mandiri Taspen's (Bank Mantap) National Long-Term Rating is driven by Fitch Ratings Indonesia's view of the likelihood of extraordinary support, in times of need, from its 51% parent, PT Bank Mandiri (Persero) Tbk (Mandiri; Long-Term Issuer Default Rating: BBB/Negative; National Long-Term Rating: AAA(idn)/Stable; Viability Rating (VR): bbb-). State-owned Mandiri is Indonesia's largest bank in terms of total assets. PT Taspen, a state-owned company that manages pension funds for Indonesia's civil servants, holds around 48% of Bank Mantap's shares. Anchored to Parent's VR: Bank Mantap's rating is anchored to Mandiri's VR, as we believe that any potential support, if required, would most likely come from Mandiri's internal resources. Details on Mandiri's VR and sensitivities can be found in the rating action commentary published on 20 April 2026. High Ability to Support: Mandiri has a strong ability to support its banking subsidiary, considering its credit profile...
