Bank Mandiri
PT Bank Mandiri Tbk is Indonesia's second-largest financial institution by assets. Bank Mandiri offers businesses and individuals throughout Indonesia a full set of banking and non-banking products and services. The company also serves international clients with subsidiaries, branches and representative offices in London, Hong Kong, Singapore, Malaysia, Timor Leste, Shanghai, and the Cayman Islands. Bank Mandiri was established as a consequence of the Asian Financial Crisis. When the Indonesian financial sector had collapsed in the late 1990s, four state-owned banks (Bank Exim, Bank Bumi Daya, Bank Dagang Negara and Bapindo) were merged into Bank Mandiri as part of the government's bank restructuring program.
Profil
| Industry Sector | Finance |
| Industry Sub Sector | Banking |
| Established | 2 October 1998 |
| Listed | 14 July 2003 |
| Listed company code | BMRI |
| Listed Shares | 23,333,333,333 |
| Dividend | Yes |
| Major Shareholders (>5%) | Government of Indonesia (60.00%) |
| Key Subsidiaries | Bank Syariah Mandiri AXA Mandiri Financial Services Mandiri Sekuritas Mandiri Tunas Finance Bank Sinar Harapan Bali Mandiri AXA General Insurance |
Stock Quote Bank Mandiri - BMRI:
Business Summary
Bank Mandiri has six business segments:
• Institutional
• Corporate
• Treasury
• Commercial & Business
• Consumer Finance
• Micro & Retail Banking
Bank Mandiri, through its subsidiaries, is active in a broad range of financial services. Bank Syariah Mandiri has achieved a dominant position in Indonesia's Islamic banking; Mandiri Sekuritas provides a full range of investment banking and asset management services, and is also a significant player in the government bond market; AXA Mandiri Financial Services provides bancassurance products through Bank Mandiri's retail branch network; Mandiri Tunas Finance is a nationally distributed multi-finance company specializing in vehicle loans; Bank Sinar Harapan Bali is a specialist micro-lender and Mandiri AXA General Insurance (MAGI) is engaged in non life insurance business.
Bank Mandiri has experienced a remarkable transformation between 2005 and the present. Around 2005, the bank posted weak financial results, for example a high Non-Performing Loan Ratio (NPL) of over 15 percent. However, through an extensive restructuring program it developed into one of Indonesia's largest companies (by market capitalization) and one of the country's leading financial institutions.
Bank Mandiri's Operational Highlights:
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Number of Deposit Accounts¹ |
11,992 | 13,700 | 14,000 | 15,700 | 16,900 | ||
| Number of Branches |
1,537 | 1,810 | 2,050 | 2,312 | 2,457 | 2,599 | 2,631 |
| Number of ATMs | 8,996 | 10,985 | 11,514 | 15,444 | 17,388 | 17,461 | 17,766 |
¹ in thousands
Source: Bank Mandiri, Annual Report 2017
Bank Mandiri's Financial Highlights:
| 2015 | 2016 | 2017 | |
| Net Interest Income | 45,363 | 51,825 | 52,327 |
| Net Profit | 20,335 | 13,807 | 20,640 |
| Operating Income | 26,339 | 18,613 | 27,170 |
| Total Assets |
910,063 | 1,038,706 | 1,124,700 |
| Total Liabilities | 736,199 | 824,560 | 888,027 |
| Third Party Funds | 676,387 | 762,501 | |
| Earnings per share¹ | 871,50 | 591,71 | 442,28 |
| Non Performing Loan Ratio² |
2.3% | 3.96% | 3.45% |
| Capital Adequacy Ratio (CAR) |
18.6% | 21.4% | 21.6% |
| Loan to Deposit Ratio (LDR) |
87.1% | 85.9% | 89.3% |
| Dividend per Share¹ (Gross) |
261,45 | 266,27 |
| 2010 | 2011 | 2012 | 2013 | 2014 | |
| Net Interest Income | 19,519 | 21,776 | 28,422 | 33,809 | 39,132 |
| Net Profit | 9,218 | 12,246 | 15,504 | 18,204 | 19,872 |
| Total Assets |
449,775 | 551,892 | 635,619 | 733,099 | 855,040 |
| Total Liabilities | 408,232 | 489,237 | 559,086 | 596,735 | 697,020 |
| Third Party Funds | 362,212 | 422,250 | 482,914 | 556,341 | 636,381 |
| Earnings per share¹ | 439,38 | 529,33 | 664,46 | 780,16 | 851,66 |
| Non Performing Loan Ratio² |
2.4% | 2.2% | 1.7% | 1.6% | 1.7% |
| Capital Adequacy Ratio (CAR) |
13.4% | 15.3% | 15.5% | 14.9% | 16.6% |
| Loan to Deposit Ratio (LDR) |
65.4% | 71.7% | 77.7% | 83.0% | 82.0% |
| Dividend per Share¹ (Gross) |
120,60 | 104,97 | 199,33 | 234,04 | 212,91 |
in billion IDR rupiah, except otherwise stated
¹ in IDR rupiah
² gross
Source: Bank Mandiri, Annual Report 2017
Projection Bank Mandiri's Future Corporate Earnings:
| 2018 | 2019 | 2020F | 2021F | 2022F | |
| Net Interest Income | 80,993.0 | 91,525.0 | 89,859.0 | 96,731.0 | 103,414.0 |
| PPOP | 48,091.0 | 48,524.0 | 45,900.0 | 51,250.0 | 54,284.0 |
| Net Profit | 23,606.0 | 27,482.0 | 17,576.0 | 27,459.0 | 32,051.0 |
| NIM | 5.2 | 5.2 | 4.6 | 4.8 | 4.9 |
| P/E Ratio (x) | 9.7 | 8.8 | 13.8 | 8.8 | 7.6 |
| P/BV (x) | 1.3 | 1.2 | 1.3 | 1.2 | 1.1 |
| ROA (%) | 2.2 | 2.2 | 1.3 | 2.0 | 2.2 |
in billion IDR, unless otherwise stated
Source: Danareksa Sekuritas (09.10.2020)
Lokasi
Detail Kontak
Plaza Mandiri
Jalan Jenderal Gatot Subroto Kav. 36-38,
Jakarta 12190
Phone: +62 21 526 5045
Fax: +62 21 527 4477
Email: [email protected]
www.bankmandiri.co.id