Finance
PT Bank Mandiri (Persero) Tbk
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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 | IDR | USD |
| Revenue | 114,233.69B | 8,023.84M |
| Gross Profit | -- | -- |
| Operating income | 33,945.97B | 2,384.38M |
| Income before tax | 33,943.36B | 2,384.20M |
| Net income | 25,015.02B | 1,757.06M |
| EBITDA | -- | -- |
| Diluted EPS | 536.03 | 0.03 |
| Dividends Per Share | 241.21 | 0.01 |
| Total Assets | 1,202.38T | 83,615.36M |
| Total liabilities | 1,017.42T | 70,753.03M |
| Total equity | 181,202.51B | 12,601.00M |
| Operating cash flow | 37,201.65B | 2,613.06M |
| Currency in IDR | Currency in USD |
Historical Data
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 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 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 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 | |
| PER | 13.75 |
| ROA | 2.14% |
| ROE | 14.37% |
| Operating margin | 29.71% |
| Profit margin | 21.89% |
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
Shareholders
- Government of Indonesia (60%)
- The Vanguard Group, Inc. (1.3%)
- Harris Associates LP (1.1%)
- Lazard Asset Management LLC (1.0%)
- BlackRock Fund Advisors (0.7%)
- PT Schroder Investment Management Indonesia (0.7%)
- Fidelity Management & Research Co. (0.6%)
- Norges Bank Investment Management (0.6%)
- APG Asset Management NV (0.5%)
- Dimensional Fund Advisors LP (0.5%)
Contact Details
- Website:http://www.bankmandiri.co.id
- Address: Plaza Mandiri, Jalan Jenderal Gatot Subroto, Jakarta, 12190, Indonesia
- Phone: +62.21.52997777
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Competitors
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Last Updated on 15 Nov, 2019