Despite Slowdown, Bank Mandiri's Profit Grows 12% in Q3 2019

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Yosepha Pusparisa 30/10/2019 18:31 WIB

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While still showing double-digit growth, Bank Mandiri's third-quarter profit growth this year is lower than last year's 20%.

Bank Mandiri's Net Profit Growth (Third Quarter)

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Despite Slowdown, Bank Mandiri's Profit Grows 12% in Q3 2019

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Bank Mandiri's Net Profit Growth (Third Quarter)

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PT Bank Mandiri (Persero) Tbk. reported a net profit of Rp 20.3 trillion from January to September this year. This net profit increased by 12% compared to Q3 2018.

While still showing double-digit growth, Bank Mandiri's Q3 net profit growth this year is lower than last year's 20%. A slowdown in Bank Mandiri's Q3 net profit has been observed since last year.

Previously, Bank Mandiri's performance declined by 17.6 percent in 2016. The state-owned enterprise (SOE) bank only achieved Rp 12 trillion compared to Rp 14.6 trillion in 2015. This decrease was due to increased provisioning costs to anticipate a surge in non-performing loans.

Editor : Safrezi Fitra

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."