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Jakarta Post

Bank Mandiri profit down 30 percent in first nine months

  • Yunindita Prasidya


Jakarta   /   Fri, October 30 2020   /  01:00 am
Banking solutions: State-owned Bank Mandiri helps businesses face the current challenging times through online banking solutions. (Courtesy of Bank Mandiri/.)

State-owned Bank Mandiri, the country’s second-largest bank by asset value, saw its profit contract by double digits as of September despite booking growth in loan disbursements. The bank’s net profit declined a steep 30.7 percent year-on-year (yoy) to Rp 14.03 trillion (US$956 million) during the first nine months of this year from Rp 20.25 trillion in the same period last year. “With the conclusion of 2020’s third quarter, Bank Mandiri has its focus on two main things: pushing for the national economic recovery and sustaining a healthy growth,” Bank Mandiri’s newly appointed president director, Darmawan Junaidi, said during a virtual public expose on Monday.  Darmawan said the bank would prioritize maintaining loan growth while pursuing efficiency measures and accelerating digital innovation to sustain growth.  Bank Mandiri saw ...