Bank Mandiri Encourages Industrial Downstreaming Through Manufacturing Credit

Photo: Doc. Bank Mandiri

Bank Mandiri, as one of the development agents and state-owned enterprises, continues to show its strong commitment to supporting the downstreaming of the national industry. Through various strategic initiatives, Bank Mandiri plays an active role in encouraging the growth of the downstream industrial sector with credit distribution focused on the manufacturing sector.

Bank Mandiri Corporate Secretary Teuku Ali Usman assessed that the downstream or processing sector has positive business prospects in the future.

Evidently, until June 2024 Bank Mandiri had distributed credit to the manufacturing sector (processing) amounting to IDR 177.37 trillion. The credit distribution grew 15.66% year on year (YoY) with optimal quality maintained.

"We distribute the most manufacturing credit distributions to the sub-sector of the food and beverage industry, large metal industry and trade, the fertilizer and medicinal industry, the pulp & paper industry, and the chemical industry," Ali explained in his official statement, Wednesday, August 21.

Furthermore, the bank coded BMRI issuer emphasized that until the end of 2024, Bank Mandiri will continue the strategy that has been implemented, namely increasing dominance in the wholesale business and growing based on an ecosystem driven growth approach as well as leading sectors in various regions. This is in line with Bank Mandiri's strategy to encourage sustainable and populist-based economic growth.

"We are optimistic that with this strategy, we can achieve credit growth (bankwide consolidation) in the range of 16%-18% by the end of the year, while still prioritizing the precautionary principle to maintain credit quality at an optimal level," concluded Ali.