JAKARTA - Bank Mandiri's Annual General Meeting of Shareholders (AGMS) approved the allocation of 60 percent of 2019 net profit or around IDR 16.49 trillion (IDR 353.34 per share) as dividends to be distributed to shareholders. This figure is an increase compared to the previous year of Rp. 11.2 trillion (around Rp. 241 per share).
"The determination of the dividend amount has taken into account the company's liquidity needs in developing the business and fulfilling the latest regulations from the regulator, as well as a form of corporate appreciation to shareholders for their trust and support. Meanwhile, the remaining 40 percent of 2019 net profit will be used as retained earnings," said the President Director. Bank Mandiri Royke Tumilaar in Jakarta, Wednesday 19 February.
According to Royke, Bank Mandiri posted a very good performance last year, in which the consolidated net profit of Bank Mandiri was recorded at IDR 27.5 trillion or grew 9.9 percent on an annual basis (yoy).
This achievement was supported by consolidated credit growth of 10.7 percent (yoy) to reach Rp907.5 trillion at the end of last year.
From these disbursements, the company managed to record a net interest income of Rp. 59.4 trillion, up 8.8 percent (yoy) over the previous year. As a result, the company's assets also increased by 9.65 percent to Rp1,318.2 trillion at the end of last year
In line with the desire to grow in a healthy and sustainable manner, Bank Mandiri also succeeded in improving the quality of loans disbursed so that the ratio of non-performing loans (gross NPL) fell 42 bps to 2.33 percent compared to December last year. As a result, the CKPN cost also decreased by minus 14.9 percent to Rp12.1 trillion.
According to Royke, consistency in prioritizing the principles of healthy and sustainable growth in continuous expansion and service innovation through automation or digitalization, is the key to the company's success in passing 2019 which is marked by intense competition in the banking industry and the proliferation of digital-based financing businesses.
"The company realizes that the challenges of the banking industry this year will be increasingly complex, both in terms of liquidity, the existence of the financial technology industry and the uncertainty of the global economic situation. For this reason, we will continue to be aware of the latest economic developments and take the necessary strategic initiatives based on considerations of effectiveness and efficiency," said Royke.
Change of Directors
One of these initiatives, added Royke, can be seen from the shareholder's decision to change the composition of the company's management. One of them is the appointment of Hery Gunardi to become Deputy President Director replacing Sulaiman Arif Arianto, who has expired his term of office. Meanwhile, Aquarius Rudianto was appointed as Director of Business and Networks.
The AGMS also agreed to appoint M. Chatib Basri as President Commissioner to replace Kartika Wirjoatmodjo who became President Commissioner of Bank Rakyat Indonesia. In addition, shareholders also agreed to appoint Andrinof Chaniago, Nawal Nely, Faried Utomo, Arif Budimanta, Boedi Armanto and Loeke Larasati Agoestina to the ranks of the Company's Board of Commissioners.
With this decision, the composition of the company's board of directors is President Director Royke Tumilaar, Deputy President Director Hery Gunardi, Director of Risk Management Ahmad Siddik Badruddin, Director of Information Technology Rico Usthavia Frans, Director of Treasury, International Banking & SAM Darmawan Junaidi, Director of Corporate Banking Alexandra Askandar.
Then, Operations Director Panji Irawan, Compliance and HR Director Agus Dwi Handaya, Director of Institutional Relations Donsuwan Simatupang, Director of Commercial Banking Riduan, as well as Director of Finance and Strategy Silvano Winston Rumantir and Director of Business & Networks Aquarius Rudianto.
The composition of the company's commissioners includes President Commissioner M. Chatib Basri, Deputy President Commissioner Andrinof Chaniago, Independent Commissioner Mohamad Nasir, Independent Commissioner Boedi Armanto, Independent Commissioner Loeke Larasati Agoestina, Commissioner Ardan Adiperdana, Commissioner Nawal Nely, Commissioner Faried Utomo, Commissioner Arif Budimanta and Commissioner Rionald Silaban.
"In addition to responding to the challenges of the banking industry, this shareholder decision is expected to further lead Bank Mandiri to become a state-owned bank capable of playing a role as an agent of change and a value creation agent for a better future for Indonesia," said Royke.
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