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Bank Mandiri sees 50% increase in Islamic banking profits
The opening of more branches throughout Indonesia will help attain this goal.
Bank Syariah Mandiri, the Islamic unit of Bank Mandiri, Indonesia’s largest bank by assets, forecasts its profit at US$123.7 million this year from US$82 million last year.
BSM President Director Yuslam Fauzi said the bank’s assets rose to US$5.6 billion in 2012.
Apart from BSM, other Islamic lenders operating in Indonesia include Bank Mega Syariah, Bank BRISyariah, BCA Syariah and Bank Muamalat.
Total assets of Indonesia’s Islamic banks rose to US$19.9 billion as of this January.
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