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PT Bank Mandiri (Persero) Tbk

  • 7,250.00 IDR
  • +75.00
  • +1.05%
  • Indonesia
    Aug 23, 2019
  • Ticker
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  • Market cap (IDR)
  • Market cap (USD)
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Company Background

Budi Sadikin is one of the strongest supporters of reform in Indonesia's banking industry. The CEO of the state-owned Bank Mandiri, who was formerly a manager at IBM's Tokyo headquarters, has been very vocal since financial regulators recently postponed Mandiri's acquisition plan of a smaller state-owned lender. He argues that Indonesia, which has 120 banks, should follow the path of Malaysia, which recently began a three-way merger to form the country's largest lender.

Sadikin's stance shows the power the government holds in decision making. While 40% of its shares are available to the public, Bank Mandiri, like many other state-owned enterprises, requires government approval for every proposal made at the bank's shareholders meetings.

Bank Mandiri was created in 1999 from the merger of four banks under a government restructuring effort after the Asian currency crisis. It went public in 2003 and is currently the country's largest bank by assets. It offers one-stop financial services, including brokerage services, asset management, insurance and Islamic finance.

Business Summary

PT Bank Mandiri (Persero) Tbk engages in providing general banking services. It operates through the following business segments: Corporate; Commercial; Retail; Treasury & Markets; Head Office; Subsidiaries-Sharia; Subsidiaries-Insurance; and Subsidiary-Other Than Insurance and Sharia. The Corporate segment includes loans, deposits, and other transactions by corporate customers. The Commercial segment consists of loans, deposits, and other transactions by medium scale commercial and business banking customers. The Retail segment comprises of loans granted to business entities or individuals with micro-scale to small; and products or other services such as deposits, payment transactions, and other transactions belonging to micro and small customers. The Treasury & Markets segment offers treasury activities of the bank including foreign exchange, money market, and fixed income; and international banking, capital markets, and supervision of the foreign office. The Head Office segment manages the assets and liabilities of the group other than those managed by other operating segments. The Subsidiary-Sharia segment deals with all transactions conducted by subsidiary engaged in sharia banking. The Subsidiaries-Insurance segment covers all transactions conducted by subsidiaries engaged in life insurance, health insurance, and general insurance. The Subsidiary-Other Than Sharia and Insurance segment pertains all transactions subsidiaries engaged in consumer finance, remittance services, securities, and banking. The company was founded on October 2, 1998 and is headquartered in Jakarta, Indonesia.

Financial Highlights

Dec 2018 IDRUSD
Gross Profit----
Operating income33,945.97B2,384.38M
Income before tax33,943.36B2,384.20M
Net income25,015.02B1,757.06M
Diluted EPS536.030.03
Dividends Per Share241.210.01
Total Assets1,202.38T83,615.36M
Total liabilities1,017.42T70,753.03M
Total equity181,202.51B12,601.00M
Operating cash flow37,201.65B2,613.06M
Currency in IDRCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 84,527.68B 99,771.19B 102,431.66B 108,508.52B 114,233.69B
Gross Profit -- -- -- -- --
Operating income 25,925.14B 26,360.37B 18,406.77B 27,203.06B 33,945.97B
Income before tax 26,008.01B 26,369.43B 18,572.96B 27,156.86B 33,943.36B
Net income 19,871.87B 20,334.96B 13,806.56B 20,639.68B 25,015.02B
EBITDA -- -- -- -- --
Diluted EPS 425.82 435.75 295.85 442.28 536.03
Dividends Per Share 106.45 130.72 133.13 199.02 241.21
Total Assets 855,039.67B 910,063.40B 1,038.82T 1,124.98T 1,202.38T
Total liabilities 750,195.11B 790,571.56B 885,456.77B 954,976.57B 1,017.42T
Total equity 102,657.88B 117,070.29B 150,453.93B 166,718.84B 181,202.51B
Operating cash flow 11,699.80B 23,439.35B 45,608.65B 34,908.32B 37,201.65B
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 7,124.83M 7,447.14M 7,701.39M 8,108.66M 8,023.84M
Gross Profit -- -- -- -- --
Operating income 2,185.23M 1,967.59M 1,383.92M 2,032.84M 2,384.38M
Income before tax 2,192.21M 1,968.27M 1,396.42M 2,029.38M 2,384.20M
Net income 1,674.99M 1,517.84M 1,038.05M 1,542.37M 1,757.06M
EBITDA -- -- -- -- --
Diluted EPS 0.03 0.03 0.02 0.03 0.03
Dividends Per Share 0.00 0.00 0.01 0.01 0.01
Total Assets 69,038.32M 66,018.38M 77,107.18M 82,917.46M 83,615.36M
Total liabilities 60,572.88M 57,350.13M 65,723.27M 70,387.06M 70,753.03M
Total equity 8,288.88M 8,492.58M 11,167.48M 12,288.10M 12,601.00M
Operating cash flow 986.17M 1,749.56M 3,429.11M 2,608.64M 2,613.06M

Valuation Measures

Dec 2018
Operating margin29.71%
Profit margin21.89%

Key executives

  • President Director: Kartika Wirjoatmodjo
  • Director-Information Technology & Operations: Rico Usthavia Franz
  • Finance Director: Panji Irawan
  • Director-Risk Management & Compliance: Ahmad Siddik Badruddin
  • Compliance Director: Agus Dwi Handaya


  • Government of Indonesia (60%)
  • Harris Associates LP (1.5%)
  • The Vanguard Group, Inc. (1.3%)
  • Lazard Asset Management LLC (1.0%)
  • BlackRock Fund Advisors (0.7%)
  • Norges Bank Investment Management (0.6%)
  • APG Asset Management NV (0.5%)
  • Dimensional Fund Advisors LP (0.4%)
  • Fidelity Management & Research Co. (0.4%)
  • Wellington Management Co. LLP (0.4%)

Contact Details

Related Companies

  • PT Mandiri Utama Finance
  • PT Koexim Mandiri Finance
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  • PT Bank Mandiri Persero (Broker)
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  • PT Bank Mandiri (Persero) Tbk (Singapore)
  • PT Bank Mandiri Persero Tbk (Cayman Islands Branch)
  • PT Bank Mandiri Persero Tbk (Shanghai Branch)
  • PT Bank Mandiri Persero Tbk (Hong Kong Branch)
  • PT Asuransi Jiwa Inhealth Indonesia
  • Bank Mandiri (Europe) Ltd.
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  • PT Pengelola Investama Mandiri
  • PT Bank Mandiri Taspen Pos
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    Last Updated on 23 Aug, 2019

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