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Two state-owned banks in Indonesia recorded assets exceeding Rp 1,000 trillion (approximately US$75 billion at the 2016 exchange rate) at the end of 2016. Both are state-owned enterprises (SOEs): PT Bank Mandiri Persero Tbk (BMRI) with assets of Rp 1,038.7 trillion and PT Bank BRI Persero Tbk (BBRI) with assets of Rp 1,003.6 trillion.
In their December 2016 financial reports, Bank BRI recorded a 2.4 percent increase in net profit to Rp 25.8 trillion from Rp 25.2 trillion the previous year. Meanwhile, Bank Mandiri's profit in 2016 decreased by 32.1 percent to Rp 13.8 trillion compared to Rp 20.3 trillion in the previous year.
Bank Mandiri's market capitalization reached Rp 260.2 trillion on February 22, 2017. Bank BRI's market capitalization was higher, at Rp 293.6 trillion.
"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."
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