Bank Mandiri Committed To Support Downstream Industry Initiated By The Government

Illustration (Photo: Doc. Antara)

JAKARTA PT Bank Mandiri Tbk openly expressed support for the government's work plan to continue to encourage the downstream process in the industrial sector.

Bank Mandiri's Corporate Banking Director, Susana Indah Kris Indriati, said this commitment was a long-term step to strengthen Indonesia's overall economic structure.

"Bank Mandiri will continue to spur lending to this sector," he said in a written statement on Wednesday, February 15.

Indah explained that the company's exposure to the manufacturing sector, including the downstream industry, had reached a total of IDR 144 trillion by the end of 2022. This record was strengthened by maintained credit quality at a low level.

"Our credit to the processing industry grew 15.2 percent when compared to the same period in the previous year or year on year (yoy)," he said.

According to Indah, financing in the manufacturing sector is indeed one of the biggest contributors to intermediation performance.

He said, with the government's initiative to accelerate growth in the downstream industrial sector, his party is optimistic that the prospect of lending will improve.

Indah added that Bank Mandiri's mixed portfolio to the manufacturing sector, including the downstream industry, has contributed 15.4 percent of the company's total credit.

"In more detail, some of the downstream processing industry sub-sectors are the food and beverage industry, the pharmaceutical industry, the metal processing industry (smelters), the fertilizer industry, the chemical industry, the livestock feed industry and so on," he added.

The business entity coded as BMRI shares claims that it will continue to prioritize the principle of prudence in order to maintain credit quality at an adequate level.

"Bank Mandiri ensures that Bank Mandiri's financing focus will be channeled to sectors that provide added value to the national economy," he stressed.

For information, some time ago President Joko Widodo stated that the government would accelerate the downstreaming of industries which was considered to be the support for Indonesia's future economic development.