Profits up at Indonesia’s Bank Mandiri
(Indonesia) - Indonesia's largest bank, Bank Mandiri, has posted a 30.6 percent rise in net profit to 3.59 trillion rupiah (US$403 million) on the back of stronger non-interest income.
The result is good news for the Indonesian Government, which owns 100 percent of the bank but is looking to float around 30 percent on the sharemarket.
Bank Mandiri's results also show the bank is having some success in reducing its non-performing loans, with the ratio on a gross basis falling from 9.7 percent to 7.3 percent.
The bank also recovered a total of 1.1 trillion rupiah in previously written off debts.
Bank Mandiri's results also show the bank is having some success in reducing its non-performing loans, with the ratio on a gross basis falling from 9.7 percent to 7.3 percent.
The bank also recovered a total of 1.1 trillion rupiah in previously written off debts.
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