The Price Was Once Capai Highest Level Rp9,450, Bank Mandiri's Stock Performance Makin Moncer Thanks To Business Transformation

Illustration (Photo: Doc. Antara)

JAKARTA - The performance of state-owned banks or State-Owned Enterprises (BUMN) has consistently recorded growth amid global economic uncertainty.

SOE Minister Erick Thohir also said that the performance of SOEs, especially the Association of State-Owned Banks (Himbara), continued to soar in the first semester of 2022 and has the potential to continue to grow.

"If in the 2021 financial year, the state gets dividend payments of IDR 24.56 trillion from state-owned banks, we are optimistic that dividends for 2022 will be much larger," Erick said in an official statement, Thursday, October 13.

Bank Mandiri as a member of Himbara also noted improved performance through consistency in accelerating business transformation as a whole in the last three years.

Bank Mandiri President Director Darmawan Junaidi explained that the company will continue this business transformation by continuing to prepare high competitive human resources and be able to prioritize the role of technology and innovation as pillars of business activities.

This performance improvement is reflected in the movement of the stock price of a bank coded BMRI issuer in the last three years.

It was recorded that on May 15, 2020, BMRI's share price was at its lowest level, which was IDR 3,760 per share.

Through the consistency of business and transformation improvement, Bank Mandiri's shares also managed to carve a strengthening of prices to reach a new all-time high to Rp9,450 at the close of trading shares in Efek Indonesia, Tuesday, September 13.

This position rose 34.2 percent from the stock price at the close of trading in early 2022 of IDR 7,025.

"We are grateful to the Minister of SOEs, Mr. Erick Thohir, who always supports Bank Mandiri's efforts to carry out business transformation to be sharper and more productive," said Darmawan.

This consistency was also realized through solid performance. It was recorded that until the end of August 2022 Bank Mandiri as a bank only managed to record loans of IDR 887.33 trillion or grew 9.89 percent year on year (yoy), in line with a positive economic climate.

As one of the banks that focuses on business development to the wholesale segment, Bank Mandiri's credit rate is also followed by performance improvements in terms of wholesale banking.

As reflected in Bank Mandiri's wholesale banking credit, it managed to record growth of up to 8.36 percent yoy at the end of August 2022.

This achievement is also a trigger for Bank Mandiri to consistently encourage wholesale banking business expansion which is the company's business characteristics.

"We view this growth trend as a positive signal that demand is still there and is expected to continue to increase. However, we will remain vigilant in executing future business plans," Darmawan concluded.