First Semester 2017, Bank Mandiri's Net Profit Grew by 34%

In its published financial report for June 2017, PT Bank Mandiri Tbk recorded a 33.65 percent increase in net profit to Rp 9.46 trillion in the first half of 2017, compared to Rp 7.08 trillion in the first half of the previous year. This profit of the state-owned bank was the highest since 2015. Similarly, earnings per share (EPS) in the first six months of 2017 also increased to Rp 405.56 from Rp 303.44 per share in the first half of 2016.

The growth in profit for this bank (BMRI code) was supported by a 7.56 percent increase in interest income to Rp 39.12 trillion in the first half of 2017, compared to Rp 36.37 trillion in the first half of 2016.

However, this improved performance of the government-owned bank failed to support its share price on the Indonesia Stock Exchange. On Wednesday (July 19th), the BMRI share price corrected by Rp 200 per share (1.48 percent) to Rp 13,325. While it briefly touched its highest level in the last year at Rp 13,575 per share, profit-taking ensued, resulting in a negative closing price. Over the past year, Bank Mandiri's share price has increased by 31.93 percent.