Bank Mandiri's Stock Price Hits All-Time High
Jakarta. The share price of the state-owned bank Mandiri (BMRI) surpassed the Rp 6,000 mark on Thursday, reaching an all-time high. It closed at Rp 5,975, marking a 1.27 percent increase from the previous day.
In Thursday's trading at the Indonesia Stock Exchange, Bank Mandiri shares were the second-most sought after by foreign investors, with transactions totaling Rp 251.37 billion ($16.6 million). This placed them just behind Bank Central Asia, which recorded transactions of Rp 252.73 billion.
During the first half of 2023, Bank Mandiri reported a consolidated net profit of Rp 25.2 trillion ($1.7 billion), reflecting a 25 percent year-on-year increase.
Since conducting a stock split with a 2:1 ratio in April, Bank Mandiri has seen its share price surge by 8.2 percent.
The state bank has projected a full-year net profit of Rp 49.12 trillion for 2023, compared to the Rp 41.17 trillion net profit it posted last year.
RHB Sekuritas Indonesia has revised its prediction for Bank Mandiri's share price target from Rp 6,200 to Rp 6,600.
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