Bank Mandiri's Assets Surpass BRI's Again, Growing 14.6%

PT Bank Mandiri (Persero) Tbk achieved a 14.56% asset growth, reaching Rp 1.64 quadrillion by the end of September 2021 compared to the end of December 2020 (year to date/ytd). This figure positions the bank, with the stock code BMRI, as the state-owned enterprise (SOE) bank with the largest assets and the bank with the largest assets in Indonesia.

Bank Mandiri's asset growth coincided with a 3.71% increase in equity (ytd) to Rp 196.15 trillion at the end of Q3 2021. In addition, its liabilities increased by 16.26% (ytd) to Rp 1.44 quadrillion at the end of September 2021.

Meanwhile, PT Bank Rakyat Indonesia (Persero) Tbk's assets grew by 7.14% (ytd) to Rp 1.62 quadrillion at the end of Q3 2021. This places BRI as the bank with the second-largest assets, followed by PT Bank Negara Indonesia (Persero) Tbk in third place after its assets grew by 3.15% (ytd) to Rp 919.45 trillion at the end of September 2021. Then, PT Bank Tabungan Negara (Persero) Tbk saw its assets grow by 1.9% (ytd) to Rp 368.06 trillion by the end of Q3 this year.

Bank Mandiri's asset increase is due to the merger of three sharia banks from its subsidiary banks last February. These three banks are PT Bank BRI Syariah Tbk (BRIS), PT Bank BNI Syariah (BNIS), and PT Bank Syariah Mandiri (BSM). These three sharia banks merged to form a new entity, PT Bank Syariah Indonesia Tbk, with the trading code BRIS.

The entity resulting from the merger (BRIS) then became a subsidiary of Bank Mandiri. As is known, BRIS's assets amounted to Rp 251 trillion at the end of Q3 2021. This is what caused BMRI's assets to surpass BBRI's again.