Bank Mandiri plans to issues local bond $379m in June
JAKARTA (TheInsiderStories) – PT Bank Mandiri Tbk (IDX: BMRI), the publicly listed state own lender, plans to issues local bonds at least Rp5 trillion in June or July as part of financing needs $1 billion in 2016. Beside issue bonds, the bank will get the other financing from bilateral loans.
The CEO Kartika Atmodjo said, in two years term, the bank plans to issues Rupiah bonds up to Rp10 trillion with tenor between 5 to 7 years. The fund from bonds and bilateral loan will use to finance the long-term projects with tenure 5-10 years.
This year, Bank Mandiri targeting the loans to grow 12% to 14% from last year figures Rp595.46 trillion. As part of bilateral loans potential, today, Bank Mandiri and KfW IPEX-Bank signed a master of understanding to finance the infrastructure projects in Indonesia.
Director Finance and Treasury of Bank Mandiri Pahala Mansury said, the collaboration with KfW, will give another option for the bank’s corporates client for Germany products. While, Managing Director KfW, Christian Bevc adding, the bank looking to finance transport infrastructure such as port, airport and bring out the expertise to the table.
Last year, Bank Mandiri posted net profit of Rp20.3 trillion, or edged up 2.3 percent from Rp19.9 trillion in 2014. Its net interest income rose 16 percent to Rp48.5 trillion, while fee-based income also increased by 23.7 percent to Rp18.6 trillion.
Its loan grew 12.4 percent in the year to Rp595.5 trillion from Rp530 trillion in previous year. The credit growth helps boost the bank’s assets to Rp910.1 trillion, from Rp855 trillion in previous year.
Majority of these loans were allocated to productive sector of the economy, amounted to Rp463.8 trillion, up 13 percent from previous, in which loan for investment purposes rose 14.2 percent, loans used for working capital rose 12.3 percent. Loans to construction sector in particular accelerated by 4.2 percent, and loan growth to processing industry grew by 21.7 percent.
Loan growth was recorded in almost all sectors, with micro loan grew by 22.9 eprcent to Rp42.5 trillion with total customers of over 1 million, while loans to micro and SMEs (MSMEs) edged up 3.2 percent to Rp75.8 trillion.
Bank Mandiri’s total people’s business loan (KUR) reached Rp21.7 trillion with 466,000 customers. The KUR allocated in 2015 alone reached Rp3.5 trillion with 70,318 customers.
Its third party fund totaled Rp676.4 trillion, up from Rp636.4 trillion in previous year. Of these, the value of cheaper third party funds (savings) amounted to rp443.9 trillion, driven by a rise in savings by Rp19.3 trillion to Rp271.7 trillion.
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Source: The Insiderstories
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