Jakarta. Bank Mandiri (BMRI) recorded a consolidated net profit of Rp 26.55 trillion ($1.6 billion) in the first half of the year, representing a 5.23 percent increase year-on-year.

In its financial statement published on Wednesday, the state-owned bank reported robust growth in credit issuance, rising from Rp 1,272.07 trillion to Rp 1,532.35 trillion over the same period, a 20.46 percent increase.

The bank’s consumer financing business enjoyed the strongest growth in credit issuance, amounting to Rp 39.38 trillion, nearly 42 percent higher than in the first half of 2023.

Bank Mandiri Group generated Rp 72.22 trillion in interest revenue over the first six months of 2024, an increase of 12.51 percent compared to Rp 64.19 trillion in the first half of 2023.

However, the high-interest regime also raised the group’s interest cost by 37.07 percent, from Rp 16.88 trillion to Rp 23.14 trillion, resulting in a net interest income of Rp 49.08 trillion.

As of June 30, Bank Mandiri’s assets were valued at Rp 2,257.8 trillion, comprising Rp 2,003.44 trillion in liabilities and Rp 254.35 trillion in equity. The overall value of assets is 14.96 percent higher than six months prior.

Add as a preferred source on Google +