Bank Mandiri Posts Rp 19.2 Trillion Profit Through Q3 2021

PT Bank Mandiri (Persero) Tbk reported a net profit of Rp 19.23 trillion in the third quarter of 2021. This figure represents a 37.08% increase compared to the same period the previous year (year on year/yoy).

Mandiri's net profit growth is better than the January-September 2020 period. At that time, Mandiri's net profit decreased by 30.1% compared to the same period in 2019.

Despite the growth, the state-owned bank's profit is still lower than before the Covid-19 pandemic. Net profit in the third quarter of 2019 reached Rp 20.25 trillion.

The growth in net profit for the bank with the code BMRI was supported by an 8.89% (yoy) increase in interest income to Rp 72.27 trillion for the period January-September 2021. On the other hand, interest expenses decreased by 21.72% (yoy) to Rp 18.95 trillion in the first nine months of 2021.

BMRI's assets grew by 14.6% to Rp 1.64 quadrillion during the January-September 2021 period compared to the end of 2020 (year to date/ytd). The growth in assets of the government-owned bank was supported by an increase in equity of 3.71% (ytd) to Rp 196.15 trillion and an increase in liabilities of 16.26% to Rp 1.44 quadrillion.

This year's improved financial performance has also been felt by investors as shareholders. The price of BMRI shares closed at Rp 7,025/unit on Thursday, October 28, 2021. If investors held these shares since the end of last year, they would have earned a profit of 14.86%.