JAKARTA -- Bank Mandiri, Indonesia's largest lender by assets, saw its net profit slide 26% in the January-March period as it struggled to recover from worsening loan quality.
"2016 will be a tough year," Mandiri's President and CEO Kartika Wirjoatmodjo told analysts on Monday. He said the bank's targets for the year, including a 12-14% growth in loans, will likely be revised down after the announcement of its second quarter financial results. "Next year we hope to come back to more normalized earnings projections," he said.
