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Bank Mandiri reports YOY increase in 9-month net profit


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Bank Mandiri reports YOY increase in 9-month net profit

Indonesia-based PT Bank Mandiri (Persero) Tbk's consolidated net profit for the nine months ended Sept. 30 rose year over year.

The bank said profit attributable to the parent company increased to 18.092 trillion rupiah from 15.069 trillion rupiah in the prior-year period. EPS rose to 387.68 rupiah from 322.91 rupiah.

Net interest income and Shariah income increased to 40.473 trillion rupiah from 38.839 trillion rupiah. Net premium income rose to 2.237 trillion rupiah from 1.781 trillion rupiah. Meanwhile, net interest margin at the end of September fell to 5.52% from 5.64% in the year-ago period.

The bank said profit from operations grew to 23.595 trillion rupiah from 19.931 trillion rupiah. Other operating expenses declined to 19.115 trillion rupiah from 20.689 trillion rupiah.

Impairment for loans declined to 10.660 trillion rupiah from 12.310 trillion rupiah. The allowance for impairment on financial assets to earning assets ratio was 3.50% as of Sept. 30, compared to 4.05% at the end of the prior-year period.

As of the end of September, the bank's gross nonperforming loan ratio was 3.04% compared to 3.74% at the end of the prior-year period. The bank's net NPL ratio was 0.81%, compared to 0.85% at the end of September 2017.

The group's capital adequacy ratio declined to 21.38% as of Sept. 30 from 21.98% in the prior-year period.

As of Oct. 16, US$1 was equivalent to 15,149 Indonesian rupiah.