In 9 Months Bank Mandiri Raised IDR 19 Trillion, Up 37 Percent From Last Year

JAKARTA – PT Bank Mandiri Tbk succeeded in scoring a consolidated net profit of Rp. 19.23 trillion until the close of the third quarter of 2021. The score rose 37.1 percent compared to the same period the previous year.

Bank Mandiri President Director Darmawan Junaidi explained that this good performance achievement was in line with the national economic recovery and the continued decline in positive cases of COVID-19.

"We really appreciate the government's consistency in encouraging the acceleration of vaccination and pandemic prevention, including the regulator's steps through a series of policies for the National Economic Recovery (PEN) program," he said after the performance presentation on Thursday, October 28.

According to Darmawan, the net profit growth was supported by the optimization of the company's intermediation function in line with the improving economic growth.

"Until the end of September 2021, the company's credit rate on a consolidated basis was able to grow positively by 16.93 percent year-on-year (yoy) to Rp1,021.6 trillion," he said.

In detail, the boss of Bank Mandiri explained that the wholesale segment is still one of the driving forces of credit growth with an increase of 7.93 percent to Rp533 trillion, which is mainly driven by the performance of commercial banking and corporate banking.

"In line with the government's efforts to accelerate national economic recovery, the company is committed to contributing to economic revival in potential sectors in each region, including MSMEs," he continued.

Furthermore, until September 2021, Bank Mandiri's MSME loans also recorded a significant increase of 20.3 percent yoy to reach Rp100.1 trillion. Growth on the MSME credit side is also supported by the distribution of People's Business Credit (KUR) which has reached Rp28.46 trillion to more than 291,000 debtors.

The smoothness of the intermediation line was offset by the ratio of non-performing loans (NPL) which was maintained at the level of 2.96 percent on a gross basis with an allowance for impairment losses (CKPN) of Rp. 16.4 trillion.

In terms of liquidity, the financial services institution codenamed BMRI issued third party funds (DPK) of Rp1,214 trillion, higher than September 2020 which amounted to Rp1,024.

Then, credit restructuring affected by the pandemic is said to continue to show a sloping trend to Rp. 90.1 trillion compared to the end of 2020 period, which was Rp. 93.3 trillion.

"Bank Mandiri's positive achievements in the third quarter of 2021 show that growth is starting to occur. We will of course periodically monitor economic conditions, including exploring business potentials to support sustainable performance growth," concluded Darmawan.