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Jakarta Post

Bank Mandiri books 9 percent growth in Q1 net profit

  • Yunindita Prasidya


Jakarta   /   Thu, June 11 2020   /  01:00 am
A teller counts banknotes at Bank Mandiri in Jakarta in this file photo.(JP/Nurhayati)

State-owned Bank Mandiri has secured net profit growth in the first quarter as it strives to strengthen its digital channels amid the outbreak.  The bank saw its net profit grow 9.44 percent year-on-year (yoy) to Rp 7.92 trillion (US$5.65 million) in the first three months, with a growth rate that was much higher than its peers. State-owned Bank Rakyat Indonesia (BRI) saw its net profit contract 0.3 percent in the first quarter to Rp 8.17 trillion, while Bank Tabungan Negara (BTN) recorded a 36.79 percent contraction, while Bank Negara Indonesia (BNI) booked 4.3 percent growth. The notable growth in Bank Mandiri’s net profit was supported by nearly 24 percent growth in its fee-based income to Rp 7.74 trillion and 9.05 percent increase in its net interest income to Rp 16.16 trillion.  “We are committed to maintaining business growth that is su...