Bank Mandiri posts 21.1% profit increase

A 22.8 percent increase in credits.

This is what Riswinandi, the vice president of Bank Mandiri, attributes their surge in profit.

Bank Mandiri reported a 21.2 percent increase in net profit to Rp11.1 trillion in the first nine months of the year from Rp9.2 trillion in the same period last year.

"Positive performance in intermediary has contributed to the increase in the bank`s profit," Riswinandi said.

The bank's outstanding credits reached Rp362.2 trillion by September 2012 up from Rp297.5 trillion a year earlier.

The bank also exhibited positive numbers in many other areas.

Its assets increased to 17.2 percent to Rp588.4 trillion by the end of the third quarter of 2012, while net non performing loan ratio is only 0.52 percent.

Credit increase was recorded in almost all business segments with the highest increase recorded in micro segment - up 77.3 percent to Rp16.8 trillion .

Meanwhile, collection of third party funds rose 14.6 percent to Rp430.9 trillion by September 2012 from a year earlier .

Public savings alone rose 22.1 percent to Rp180.2 trillion and its fee-based income reached Rp8.6 trillion or 28.4 percent of its operating income.

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