JAKARTA Feb 14 Indonesia's biggest bank by
assets, PT Bank Mandiri Tbk, posted a sharp drop in
net profit for 2016 due to an increase in provisions for bad
loans, its chief executive said on Tuesday.
State-controlled Mandiri delivered a net profit of 13.8
trillion rupiah ($1.04 billion) for 2016, Mandiri CEO Kartika
Wirjoatmodjo told reporters ahead of an earnings briefing.
That was lower than a net profit of 20.3 trillion rupiah a
year ago. It was also below an average estimate of 15.7 trillion
rupiah by 20 analysts, according to Thomson Reuters data.
($1 = 13,325.00 rupiah)
(Reporting by Cindy Silviana, writing by Eveline Danubrata;
Editing by Himani Sarkar)