Bank Mandiri Records Credit Disbursement Reaches More Than IDR 1.5 Trillion In The Second Quarter Of 2024

Bank Mandiri (Photo: Doc. Antara)

Bank Mandiri again recorded positive performance in the second quarter of 2024 in various financial indicators. This is reflected in the realization of consolidated lending reaching IDR 1,532 trillion in the first half of 2024 or growing 20.5 percent on an annual basis or year on year (yoy).

Bank Mandiri Finance and Strategy Director Sigit Prastowo explained that this growth exceeded the average banking industry which grew by 12.36 percent yoy as of June 2024.

The credit growth was also followed by the consolidated realization of Bank Mandiri's net profit which grew 5.23 percent yoy to IDR 26.6 trillion at the end of the second quarter of 2024.

"The credit growth, which exceeds the average banking industry, cannot be separated from Indonesia's economic stability and development, even in the midst of the dynamics of the global economy," he said at the Public Expose Live, Tuesday, August 27.

Sigit said this achievement was also followed by the improving quality of Bank Mandiri's assets, in line with the application of continuous, systemic, logical and measurable precautionary principles.

"To encourage credit growth, Bank Mandiri focuses on expanding the ecosystem and optimizing potential in each region, in order to achieve maximum results in accordance with the needs of the community and customers," he said.

Sigit said Bank Mandiri's consolidated credit rate grew optimally in all segments. Credit disbursement to the corporate segment became the largest contributor, with the realization reaching Rp561 trillion in the second quarter of 2024, an increase of 29.7 percent yoy compared to the previous year which amounted to Rp433 trillion.

In addition to corporations, the commercial segment recorded an increase in credit of 21.7 percent yoy to Rp262 trillion, while MSME loans increased 6.3 percent yoy to Rp127 trillion. Followed by the rate of consumer loans which increased 9.02 percent yoy to Rp116 trillion.

The credit disbursement, continued Sigit, helped encourage Bank Mandiri's assets to reach Rp2,258 trillion on a consolidated basis at the end of June 2024, up 15 percent on an annual basis.

"In the future, of course Bank Mandiri will continue to innovate and transform to provide better services. Through proper business mapping, we believe Bank Mandiri will continue to grow and develop into superior and competitive banks at the regional and global levels," said Sigit.