JAKARTA (TheInsiderStories) - Bank Mandiri, the country’s largest bank in assets term, posted net profit of Rp3.8 trillion in the first quarter 2016, dropped 25.5 percent from Rp5.1 trillion in the same quarter 2015.
Its operating profit however increased 15.9 percent to Rp9.7 trillion from Rp8.3 trillion in the same period last year. This was driven by an increase of operating income to Rp17.2 trillion, up 16.3 percent from period las tyear.
The rise was lifted by an increase of net interest income and net premium by 19.1 percent to Rp13 trillion a 8 percent rise in fee-based income to Rp4.2 trillion.
Bank Mandiri said its outstanding credit in the quarter reached Rp574.7 trillion, 85.7 percent of which are productive loans. Loans to SMEs reached Rp74.6 trillion in the quarter, compared to Rp72.4 trillion a year earlier. Micro loans grew 59.1 percent to Rp14.2 trillion in the quarter form Rp8.9 trillion in the same quarter last year.
“In order to strengthen our productive assets structure to be more solid, we have set reserves. We are optimistic that with these steps, Bank Mandiri will continue to be consistent in strengthen its financial structure in order to grow more sustainable in the future,” Bank Mandiri President Director Kartika Wirjoamodjo said. (*)