Founded in 1980 as Maskapai Andil Indonesia Bank Pasar Seri Partha, the Bank received its license to operate as a commercial bank in 1989. In 1997 it changed its name to PT Bank Sri Partha which focused on providing financing for micro and small medium enterprises in Bali. Following an acquisition by a group of shareholders with international reputation for their social and banking activities, the bank’s name was changed to PT Bank Andara in 2009.
The shareholders also share some significant common ground that serve as foundations for the Bank’s business, such as: active roles in promoting community development, banking experience, as well as concern for developing micro economic sectors in Indonesia. Today, Bank Andara shareholders comprise Mercy Corps (controlling shareholder), DWM Fund S.C.A-SICAV SIF, International Finance Corporation (IFC), KfW, Hivos-Triodos Fonds, and I Wayan Gatha.
As of December 31, 2015, Bank Andara has established partnerships with more than 700 MFIs throughout Indonesia and plans to reach 1,200 MFIs in the next three years. As a licensed commercial bank, Bank Andara provides a range of flexible and long-term financing instruments as well as technology-based innovative products. MFIs that have partnership with Bank Andara have access to affordable, flexible and long-term sources of capital that can be used to support their business’ growth as well as that of their clients’.