Bank Mandiri profit up 30.6%<\/p>\n
Zakki Hakim
\nThe Jakarta Post
\nJakarta<\/p>\n
Indonesia's giant Bank Mandiri announced on Friday a 30.6 percent
\nincrease in its net profit to Rp 3.59 trillion (US$400.7 million)
\nin 2002 from Rp 2.75 trillion in the previous year, thanks to
\namong others a Rp 1.1 trillion loan write-back.<\/p>\n
The company last year booked operating income of Rp 10.5
\ntrillion (including a net interest income of Rp 6.87 trillion and
\na non-interest income of Rp 3.63 trillion), up from Rp 8.57
\ntrillion in 2001 (including net interest income of Rp 7.11
\ntrillion, a non-interest income of Rp 1.46 trillion).<\/p>\n
Meanwhile, the bank's total operating expenses last year were
\nRp 4.99 trillion (including a total overhead expenses of Rp 3.63
\ntrillion), up from Rp 4.47 in the previous year (Rp 3.42
\ntrillion).<\/p>\n
Its total loans increased by Rp 17.1 trillion or 35.3 percent
\nto Rp 65.4 trillion, raising its loan to deposit ratio to 35.4
\npercent from 25.3 percent.<\/p>\n
The funds collected from third parties decreased to Rp 184.11
\ntrillion from Rp 190.45 trillion, while its loans increased to Rp
\n65.42 trillion from Rp 48.34 trillion.<\/p>\n
The quality of loans, nonetheless, improved because non-
\nperforming loan (NPL) fell down from 9.7 percent in 2001 to 7.3
\npercent last year, while the net NPL dropped from 3.1 percent to
\n1.9 percent.<\/p>\n
At the end of 2002, Bank Mandiri's capital adequacy ratio
\n(CAR) was recorded at 23.4 percent, down from the previous year's
\n26.4 percent.<\/p>\n
Total government bonds as of December 2002 was Rp 148.85
\ntrillion, decreasing from Rp 153.49 trillion.<\/p>",
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