Jakarta. Bank Mandiri reported a 24.4% year-on-year increase in first-half net profit, supported by robust lending growth that significantly outpaced the broader banking industry.

According to its financial statement released on Thursday, the state-controlled bank posted a net profit of Rp 30.4 trillion ($1.7 billion) for the six months ended June 2026.

Standalone loans reached Rp 1,592 trillion ($98.3 billion) as of June, up 19.9% from a year earlier, exceeding Indonesia's banking industry credit growth of 12.67%, based on Bank Indonesia data.

Third-party deposits rose 17.1% year on year to Rp 1,710 trillion ($105.6 billion), also outperforming the industry's 10.2% deposit growth over the same period.

The bank attributed the increase in deposits to higher customer transaction volumes and stronger activity across its banking ecosystem.

Asset quality remained solid, with the non-performing loan (NPL) ratio at 0.98% as of June, while the cost of credit improved to 0.52%, reflecting lower provisioning expenses.

The stronger earnings underscore Bank Mandiri's continued ability to expand lending while maintaining healthy asset quality, even as competition in Indonesia's banking sector intensifies.