Bringing Bukalapak And Mitratel IPO To Handle BRI Rights Issue, Mandiri Sekuritas Earns IDR 321 Billion Profit In 2021

Mandiri Sekuritas' MOST application. (Photo: Doc. Antara)

JAKARTA - PT Mandiri Sekuritas made a big profit from its business activities throughout 2021. The securities company owned by PT Bank Mandiri (Persero) Tbk earned a profit of IDR 321 billion, or jumped 137 percent.

President Director of Mandiri Sekuritas Oki Ramadhana explained, the financial record shows the company's ability to grow by focusing on accelerating the business development of clients and customers.

"Especially through increasing transactions in both the capital market and advisory services, innovation in investment products, and increasing digital services," said Oki in his statement, Wednesday, March 9.

Throughout 2021, Mandiri Sekuritas' financial performance was supported by all business lines. These include investment banking, capital market, and retail.

Mandiri Sekuritas' total operating income also increased 55 percent to IDR 1.23 trillion as of December 31, 2021, compared to the same period in 2020.

Oki detailed that the investment banking business in Indonesia recorded a growth of 68 percent and investment banking - Mandiri Securities Pte. Ltd. (Mandiri Securities Singapore) grew by 10 percent. "Meanwhile, the capital market grew by 58 percent and retail by 56 percent," Oki added.

Meanwhile, Mandiri Sekuritas Director of Operations Heru Handayanto said the strong business performance was supported by successful transactions in both advisory and capital markets. Starting from six IPOs, six rights issues, 41 rupiah bonds, 11 global bonds, and 18 advisory/M&A transactions.

Several landmark transactions, including the Bukalapak IPO, the first unicorn IPO in Southeast Asia and the largest in Indonesia, the Mitratel IPO which is the largest SOE IPO on the Indonesia Stock Exchange, the rights issue of PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) which is the largest equity transaction. throughout the history of the Indonesian capital market, and several landmark M&A transactions, such as the merger of Indonesian Ports I-IV, and the restructuring of PTPN.

On the other hand, Oki said, Mandiri Sekuritas with full-service support is optimistic that the performance or demand for capital market investment from the institutional and individual side will remain high in 2022 in line with the momentum of economic recovery after the pandemic.

"We project that by the end of 2022 the Jakarta Composite Index (JCI) will reach 7,400 based on the estimated EPS growth of 12 percent in 2022 and 2023, supported by the domestic economic recovery," said Oki.