Bank Mandiri's Net Profit Increases 5.23 Percent To IDR 26.55 Trillion In Semester I-2024

Mandiri (Photo: antara)

JAKARTA - PT Bank Mandiri (Persero) Tbk (BMRI) recorded a consolidated net profit of IDR 26.55 trillion in the first semester of 2024. This achievement rose 5.23 percent compared to the same period in the previous year (year-on-year/yoy).

Quoting Antara, the company's individual net profit increased 7.17 percent yoy to Rp24.65 trillion. The increase in profit was supported by the increase in total third party funds (DPK) which jumped 15.45 percent yoy to Rp1.65 trillion.

Most of the funds came from demand deposits and savings, which can be seen from the ratio of low-cost funds or the Current Account Saving Account (CASA) which reached 75.01 percent.

This positive performance was also supported by the increase in total credit disbursement carried out by the company, including consumer financing receivables and financing leases from subsidiaries, which rose 20.46 percent yoy to Rp1.53 trillion.

Although credit disbursement continues to increase, the company is still able to maintain a consolidated non-performing loan (NPL) ratio in the range of 1.16 percent and the reserve ratio to NPL or NPL coverage reaching 292.63 percent.

The company's individual NPL ratio is even better than the consolidated ratio, with gross NPL ratio at 1.01 percent, down from 1.53 percent as of June 2023.

However, the net NPL ratio of state-owned banks increased from 0.29 percent as of June 2023 to 0.35 percent as of June 2024.

This positive financial performance also had an impact on the increase in the company's assets on a consolidated basis to Rp2.26 trillion, or an increase of 14.96 percent yoy.