Digital Transactions Become New Engine for Bank Mandiri's Performance: What Are BMRI Shares' Prospects?

Efforts to develop digital channels by PT Bank Mandiri (Persero) Tbk (BMRI) are beginning to bear fruit. The performance of its digital channels is starting to support the company’s overall performance.

Senior Market Analyst at Mirae Asset Sekuritas Indonesia, Nafan Aji Gusta Utama, assesses that the Livin’ by Mandiri app has become one of the fastest-growing financial applications in terms of user base.

“This significantly boosts fee-based income. On the other hand, successful digitalisation allows BMRI to suppress its Cost to Income Ratio (CIR), so its operational efficiency is now starting to rival BBCA,” he said in a written statement on Saturday (4/4/2026).

Additionally, he added that BMRI also benefits from the state-owned enterprise (BUMN) ecosystem and Danantara.

“Prospects for economic growth, infrastructure development, industrial and energy downstreaming including new and renewable energy are expected to increase the need for large-scale financing and corporate credit, which could be a major opportunity for BMRI as a major bank with capabilities,” he further stated.

According to Nafan, BMRI has advantages in terms of dividends plus attractive total return potential.

Thus, for investors seeking returns (income and capital gain), BMRI shares remain appealing.

He estimates BMRI’s dividend yield at 8.80 percent.

Bank Mandiri’s Director of Finance & Strategy, Novita Widya Anggraini, explained that overall, up to February 2026, transaction volumes through Livin’ by Mandiri continue to show a significant increasing trend, with total transactions reaching more than 738.7 million since the beginning of the year, or growing around 28 percent year-on-year (yoy) compared to the same period last year.

She explained that this increase is driven by the wider utilisation of digital services by the public for various daily transaction needs, from bill payments, purchasing digital products and services, to inter-individual and business fund transfers.

Additionally, the increasing use of payment transactions at various merchants and businesses, including MSMEs, also strengthens the role of Bank Mandiri’s digital services in supporting the smooth running of community economic activities and expanding more practical, fast, and inclusive transaction access.

In line with the increasing digital transaction activity, Bank Mandiri also recorded growth in commission-based income (fee-based income) from various payment, transfer, and other digital transaction services.

This is reflected in the growth of commission-based income from various Bank Mandiri digital platforms, including Livin’ by Mandiri, amounting to Rp 625 billion, up 45.3 percent year-on-year.

Then, the wholesale platform Kopra by Mandiri amounted to Rp 421 billion, growing 29.3 percent year-on-year (yoy), in line with the increasing transaction volumes of customers on the company’s digital channels.