BANK MANDIRI - 1H 2014 Results Update

by **Aldibirawa** Mon Sep 01, 2014 4:48 pm

PT Bank Mandiri Tbk (BMRI) booked 15.8% yoy increase of net income to Rp9.9 tn in 1H14. However, on a quarterly basis the bank experience a decline of profit where net income decreased 5.5% qoq from Rp5.1 tn in 1Q14 to 4.8 tn in 2Q14. The bank’s top line grew strongly on a yearly basis as net interest income surged 19.6% yoy to Rp18.1 tn in 1H14 while on a quarterly basis net interest income began to slow. Net interest income only grew 1.6% qoq from Rp9 tn in 1Q14 to Rp9.1 tn in 2Q14. During the one year period from June 2013 to June 2014, loan book grew 13.3% yoy to Rp479 tn and customer deposit grew 10.7% yoy to Rp507 tn.

*Sumber Ciptadana Research Department