Bank Mandiri's Asset Value Surpasses BRI's as of June 2021

PT Bank Mandiri (Persero) Tbk reported assets totaling Rp 1.58 quadrillion by the end of June 2021. This figure represents an increase of Rp 151.19 trillion or 10.58% compared to the end of December 2020, which reached Rp 1.43 quadrillion.

Meanwhile, PT Bank Rakyat Indonesia (BRI) (Persero) Tbk had assets of Rp 1.45 quadrillion at the end of June 2021. BRI's assets decreased by Rp 60 trillion or 4.03% compared to the end of December 2020, which amounted to Rp 1.51 quadrillion.

Thus, Bank Mandiri's assets surpassed BRI's again in trading on the Indonesia Stock Exchange (BEI). For the past four years, BRI's assets had consistently been higher than Bank Mandiri's.

The surge in Bank Mandiri's assets was triggered by the merger of several subsidiaries of state-owned banks, including Bank Syariah Mandiri, BNI Syariah, and BRI Syariah, into Bank Syariah Indonesia (BSI) on February 1, 2021. Subsequently, the resulting merged entity became a subsidiary of Bank Mandiri.

The decrease in BRI's assets is also related to the merger of its sharia unit, BRI Syariah, into BSI. BRI's ownership in BSI is only 17.26%.

According to Bank Mandiri's financial report, BSI's assets increased by Rp 120.39 trillion or 94.87% to Rp 247.3 trillion at the end of June 2021. Meanwhile, Bank Mandiri's ownership in BSI decreased to 50.95% from 99.99% at the end of 2020.