Apr 29, 2011

Bank Mandiri 1Q net profit increases 89%

The state-controlled lender PT Bank Mandiri Tbk (BMRI) posted a 89% jump in net profit for the first quarter of this year. 
Bank Mandiri President Director Zulkifli Zaini said the bank booked Rp3.78 trillion in 1Q 2011 from Rp2 trillion in 1Q 2010. Net interest margin slightly increased 7.13% to Rp4.96 trillion from Rp4.63 trillion. 
Bank Mandiri's fee-based income soared 145.6% to Rp3.68 trillion from Rp1.50 trillion. Operating profit increased 52.8% to Rp4.13 trillion from Rp2.70 trillion.
Total loans grew 24.7% to Rp251.79 trillion from Rp201.94 trillion, while total assets increased 16.71% to Rp251.79 trillion from Rp201.94 trillion. 

Disclosure: No position at the stock mentioned above. 

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