SINGAPORE (Standard&Poor's) Aug. 31, 2005--Standard&Poor's Ratings Services said today that Indonesia's PT Bank Mandiri (Persero)'s (foreign currency B+/Positive/B, local currency BB-/Stable/B) higher regulatory gross NPLs in its first-half results are not expected to have an immediate impact on the ratings on the bank. For the first half of 2005, the bank's regulatory NPLs rose to 24.6% of total loans, from 17.8% in the first quarter. With a new management team in place since May 2005, the bank moved toward full compliance with the central bank's new asset quality guidelines for commercial banks. Bank Mandiri's level of NPLs is expected to stabilize going forward, as its new senior management team focuses on working out and resolving problem
