Becoming The Largest Credit Provider In Indonesia! Bank Mandiri Successfully Reaches Rp20 Trillion Profit In Six Months

Illustration (Photo: Doc. Antara)

JAKARTA - PT Bank Mandiri (Persero) Tbk reported that it managed to collect a net profit of IDR 20.2 trillion at the end of the first semester of 2022. The score rose 61.7 percent on an annual basis (year on year / yoy) compared to the same period in 2021 with IDR 12.5 trillion.

Bank Mandiri President Director Darmawan Junaidi said the company's slick performance in the first half of this year could not be separated from the smooth intermediation performance. He explained that Bank Mandiri's credit growth on a consolidated basis as of the second quarter of 2022 reached IDR 1,138.3 trillion, or grew 12.22 percent.

"Through this achievement, Bank Mandiri has also become the bank with the largest credit distribution in Indonesia," he said in an official statement on Thursday, July 28.

Darmawan added that the improvement in performance was in line with the condition of the national economy which was still growing.

"Our results indicate that the Indonesian economy is still relatively stable despite being hit by global uncertainty," he said.

Darmawan detailed that the company's credit was still supported by the corporate segment, which rose 10.6 percent from IDR 369 trillion to IDR 409 trillion. This credit growth also contributed to the growth of Bank Mandiri's total assets on a consolidated basis which reached IDR 1.786 trillion or 13 percent.

"We are optimistic that credit can grow to 12 percent by the end of the year," he said.

In terms of profitability, the issuer-coded bank BMRI managed to record a net interest margin (NIM) of 5.37 percent. Then the return on equity (ROE) is known to be 23.03 percent, an increase of 791 bps on an annual basis.

Then for liquidity, BMRI recorded third party funds (DPK) of IDR 1.318.42 trillion or became the largest DPK in the Indonesian banking industry.

Furthermore, Bank Mandiri claims that the ratio of non-performing loans (NPL) is maintained at the level of 2.47 percent. This figure was obtained thanks to the optimization of asset quality and efficiency, the cost of credit or the cost of credit (CoC) to 1.27 percent at the end of the first semester of 2022.

"In maintaining asset quality, Bank Mandiri has carried out a mitigation process by applying the precautionary principle, including maintaining the reserve ratio in an adequate position," said Darmawan.

Meanwhile, the position of credit restructuring affected by COVID-19 has sloping down to IDR 58.2 trillion. This amount is already much lower than the position in June 2021 which was IDR 96.5 trillion.

Furthermore, sustainable financing reached IDR 226 trillion, including the distribution of the green sector of IDR 105 trillion.

"We are ready to consistently contribute 21 percent to 23 percent of the national green financing portion to support the achievement of the Nationally Determined Contribution (NDC) target in 2030 and Net Zero Emission (NZE) in 2060," he said.