April 29, 2019 / 9:53 AM / 3 months ago

Indonesia Bank Mandiri Q1 net income jumps 23 pct

JAKARTA April 29 (Reuters) - PT Bank Mandiri, Indonesia’s largest lender by assets, posted a 23.14 percent jump in quarterly net profit on Monday, helped by higher interest and fee income.

Mandiri booked 7.2 trillion rupiah ($507.22 million) in net income for the first quarter of 2019, compared with 5.9 trillion rupiah a year earlier.

The bank said its overall assets rose about 10 percent in the first three months of this year to 1,206.0 trillion rupiah.

“This jump in profit is due to a 15 percent increase in interest earned over assets, which is now at 22 trillion rupiah year, as well a 3 percent jump in fee-based income, and a decrease in loan loss provisioning,” Director Ahmad Siddik Badruddin told reporters.

Badrudin said Mandri had improved its “credit quality in all almost all business segments” and strengthened its “risk management. ($1 = 14,195.0000 rupiah) (Reporting by Cindy Silviana; Editing by Subhranshu Sahu)

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