Mandiri's profit last year rose<\/p>\n
PT Bank Mandiri, Indonesia's biggest lender by assets, said
\nprofit probably rose about 4.6 percent last year, as companies
\nand consumers borrowed more in an expanding economy.<\/p>\n
Net income in 2004 was about Rp 4.8 trillion (US$522 million),
\nin line with the company's forecast, President Director E.C.W.
\nNeloe said in a telephone interview on Friday.<\/p>\n
Mandiri had a profit of Rp 4.59 trillion in 2003. Last year's
\nprofit lagged the estimates of analysts such as Kim Kwie
\nSjamsudin and Irvin Patmadiwiria.<\/p>\n
While Kim, an analyst at PT Danareksa Sekuritas in Jakarta,
\npredicted a 5.4 trillion rupiah profit, Patmadiwiria, who helps
\nmanage the equivalent of $217 million for PT Batavia Prosperindo
\nAset Management in Jakarta, had expected Mandiri to report a
\nprofit of 5.9 trillion rupiah for 2004.<\/p>\n
Bank Mandiri and other Indonesian banks are benefiting from
\nincreased demand for credit after interest rates last year fell
\nto the lowest in six years.<\/p>\n
Faster economic growth is stoking corporate borrowing and
\nconsumer spending, which accounts for 70 percent of the $208
\nbillion economy.<\/p>\n
The financial results are being audited and should be ready on
\nFeb. 15, Neloe said.<\/p>\n
\"We will announce the results after that,\" Neloe said.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/mandiris-profit-last-year-rose-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }