=DJ UPDATE: Bank Mandiri 1H Net IDR2.14 Tln Vs IDR815 Bln
(adds additional figures, comment from the bank's president)
JAKARTA (Dow Jones)--PT Bank Mandiri (BMRI.JK) said Thursday its first-half
net profit almost tripled due to an increase in net interest income.
Net profit for the January-to-June period rose to IDR2.14 trillion from
IDR815 billion a year earlier.
Net interest income rose 38% to IDR6.69 trillion from IDR4.85 trillion at
end-June 2006, the bank's president, Agus Martowardojo, said in a written
statement.
"The increase in net profit was supported by higher net interest income and a
decrease in operating costs," Martowardojo added.
Bank Mandiri said that the net non-performing loans ratio at the end of June
30 was 3.90%, dropping from 13.9% a year earlier, while its gross NPL ratio was
15.5%, compared with 24.9% at end-June 2006.
The decrease in NPL ratios reduced its loan loss provisions.
The nation's largest lender by assets said its outstanding loans as of June 30
were at IDR116.3 trillion, compared with IDR107.8 trillion a year earlier.
Bank Mandiri's assets as of June 30 were IDR265.04 trillion, compared with
IDR255.28 trillion.
The government, which owns 67.86% of Bank Mandiri, has said that it plans to
sell a 10% stake in the bank next year to a strategic partner in an effort to
improve the bank's performance.
-By Edhi Pranasidhi and Linda Silaen; Dow Jones Newswires; 62 21 3983 1277;
[EMAIL PROTECTED]
-Edited by David Bottomley
(END) Dow Jones Newswires
July 26, 2007 05:39 ET (09:39 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.- - 05 39 AM EDT 07-26-07
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