Bank Mandiri’s Q1 Loans Grow 20% Y/Y Insider Company
Indonesia’s largest bank by assets, PT Bank Mandiri Tbk (BMRI), estimated its loan to have grown at around 20% in the first quarter of this year from the same period a year ago, a director at the bank said on Monday.
Pahala N. Mansyuri, the lender’s chief operating officer, said the growth in the first quarter this year was slower than the annual growth in January-March 2012 period.
Mandiri’s outstanding loan in the first quarter 2012 was IDR 327.17 trillion.
“Our lending did not grow that strong because we had our foreign exchange loans slowing, partly due to the slowing commodity export,” Pahala said on the sideline of Mandiri CFO Forum 2013 at the Ritz Charlton, Pacific Place hotel in Jakarta.
However, despite this condition, Mandiri, according to Pahala, can maintain the net interest margin at 5.4-5.5%.
He said Bank Mandiri expects to disburse new loans at around IDR150 trillion, focusing on corporate, wholesale banking and retail loans.
These new loans will also include Mandiri’s placement in some securities assets, such as government bonds, corporate bonds and central bank debt papers.
Budi Sadikin, Mandiri’s president director had said the lender is eyeing to become the third largest bank, in term of market capitalization, in Southeast Asia by 2019. This will be achieved through the bank’s plan to grow organically and inorganically.
Now the bank has market capitalization IDR 225 trillion.
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