Reaching Rp2,007 Trillion, Bank Mandiri’s Assets are Getting Ahead of BRI

Jakarta – PT Bank Mandiri Tbk (Bank Mandiri) managed to record impressive financial performance in the third quarter of 2023. The bank coded BMRI also made a record as the first bank in Indonesia with total consolidated assets that reached Rp2,007 trillion as of September 2023 or grew 9.11 percent compared to the same period the previous year or year on year (yoy).

Bank Mandiri President Director Darmawan Junaidi said the increase in total assets was also driven by the rate of credit growth and third party funds (DPK) which were able to grow positively.

It was recorded that Bank Mandiri managed to distribute loans on a consolidated basis of Rp1,315.92 trillion in September 2023 from the position a year earlier of Rp1,167.51 trillion or grew 12.71 percent yoy.

Meanwhile, Bank Mandiri’s consolidated deposits grew positively by 6.6 percent yoy from Rp1,361.3 trillion in September 2022 to Rp1,451.7 trillion at the end of September 2023.

“This is supported by low-cost funds or current account and saving account (CASA). Bank Mandiri’s total low-cost funds, namely Savings and Current Accounts, managed to penetrate Rp1,070 trillion, an increase of 12.8 percent yoy,” Darmawan explained in the Third Quarter 2023 Performance Exposure Press Conference, Monday, October 30, 2023.

In this case, Bank Mandiri’s assets, which reached Rp2,007 trillion, were higher than the total assets owned by PT Bank Rakyat Indonesia Tbk (BRI) which amounted to Rp1,851.97 trillion from Rp1,726 trillion as of September 2023 or an increase of 9.93 percent on an annual basis.

Then, BRI distributed loans totaling Rp1,250.72 trillion or experienced growth of 12.53 percent on an annual basis, where the composition of credit was dominated by the micro, small and medium enterprises (MSMEs) sector as much as 83.06 percent or reaching Rp1,038.90 trillion. (*)