PT Bank Mandiri Tbk (IDX: BMRI) looking fresh funds from Eurobond market around US$2 billion - Photo: Special

JAKARTA (TheInsiderStories) – One of the largest bank in Indonesia, PT Bank Mandiri Tbk (IDX: BMRI) seeking funds up to Rp 40 trillion (US$2.76 billion) in this year. The state-owned lender open the possibility to raised the funding in Rupiah and dollar denominations.

Finance Director Panji Irawan stated on Monday (01/07), funding in the form of dollars will be made around $2 billion, but the instrument has not clarified yet. In addition, the bank also plans to issue negotiable certificate of deposits or from Repo market up to Rp 10 trillion.

Meanwhile, Bank Mandiri’ CEO Kartika Wirjoatmodjo, added that the growth of foreign deposits declined last year. Based on Financial Service Authority data, he explained, foreign deposits grows negatively and it will be a challenge for the lender.

However, he believes the inflow portfolio is starting to occur for this year. The CEO state, “We are optimistic that there will be a trend in the growth of foreign exchange deposits in 2018, because last year not quite good and Bank Mandiri must maintain bilateral funding and wholesale.”

New Director

At the Extraordinary General Meeting of Shareholders of Bank Mandiri appointed Riduan Ahman as a new Director of Commercial Banking, a new position at the board of directors at the bank.

He previously served as Senior Executive VP Middle Corporate Mandiri since 2017. Ahmand also served as Bank Mandiri Regional CEO II in 2016-2017. He also served as Director of Finance and Investment in BPJS Kesehatan in 2013 and 2016.

Bank Mandiri has announced, in the third quarter (3Q) of 2018 recorded a net profit of Rp18.1 trillion, or grew 20 percent from last year worth of Rp15.1 trillion.

This net profit was driven by net interest income which grew 4.2 percent year on year to Rp40.4 trillion from 3Q 2017 of Rp38.8 trillion. In addition, this profit was also driven by income from fee-based income which rose 11.4 percent from Rp16.8 trillion in 3Q 2017 to Rp 18.7 trillion in 3Q 2018.

US$1: Rp14,500

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